Bangalore, April 15 Qualcomm, developer and innovator of advanced wireless technologies and data solutions, has announced its commitment to invest in Indian start-up companies offering innovative technologies and services that enhance the wireless communications and semiconductor ecosystems.
Qualcomm Ventures’ first direct equity investment in India is in Tessolve Services Pvt Ltd, provider of solutions and platforms for semiconductor testing, packaging, qualification and failure analysis. Qualcom did not disclose the amount. Qualcomm Ventures’ investment strategy will focus on Indian start-ups and private companies that can serve the mobile and semiconductor ecosystems in India through innovation in mobile application/platform software developers, semiconductor components, devices and service platforms, and network infrastructure providers. It will also actively work with its portfolio companies to provide strategic guidance, advise in enhancing and protecting their innovations, and support in standardising their technologies.
“We are pleased to announce Qualcomm Ventures’ entry to the Indian market, adding to our growing business and R&D presence,” said Mr Kanwalinder Singh, President, Qualcomm India and South Asia.
Mr Karthee Madasamy, Senior Investment Manager and head of India investments, said “We are looking at start-up companies that focus on the growing Indian consumer and enterprise market. With a full-time presence in Bangalore, we are committed to the Indian venture ecosystem.”