Qualcomm invests $40 million in Chinese mobile firms

The US chip maker is pouring an additional $40 million into four Chinese companies and a venture fund to stay ahead of the game in mobile and emerging technologies.

Qualcomm is investing a further $40 million into Chinese companies working on mobile and wireless technologies.

Announced on Friday, the funds will be plowed into four Chinese companies and the China Walden Venture Investments LP fund, which works predominately with semiconductor firms.

The recipients of investment are 7Invensun, an eye-tracking solution provider; Chukong Technologies, a mobile entertainment platform provider; inPlug, which focuses on network virtualization utilizing Software Defined Network software for connected devices in the home, and Unisound, a voice recognition and processing technology company whose technology is used in mobile Internet solutions, smart appliances, wearables, in-car navigation and call centers.

The companies will all receive funding through Qualcomm's $150 Million strategic China venture fund, announced earlier this year.

Despite Chinese regulators scrutinizing Qualcomm over alleged anti-competitive practices, the US chip maker believes that investing in Chinese firms can keep Qualcomm competitive and ahead of the game in the mobile realm. Qualcomm is focusing investment on mobility-related companies, but this spans across the Internet, e-commerce, semiconductors, education and health.

Earlier this year, Qualcomm invested in Chinese mobile education startup Cambridge Wowo and healthcare solutions provider Boohee.

Nagraj Kashyap, senior vice president of Qualcomm Ventures commented:

"With a focus on semiconductors, mobile application enablers, smart home and healthcare, this group of startup companies closely complements existing products and services from Qualcomm Incorporated's subsidiaries.

We look forward to working with these innovative companies to provide financial, marketing, technology and business support to help propel them forward in the competitive wireless ecosystem."

Read on: In the enterprise


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