Qualcomm Inc. will invest $40 million into four Chinese startups and one venture fund in order to ramp its semiconductor penetration in the country.
During the summer of this year, Qualcomm stated it was going to take losses due to a China National Development and Reform Commission (NDRC) investigation into licensing practices in the country. During that time, Qualcomm invested $150 million in Chinese startups because the semiconductor vendor views China as a strong player in the semiconductor industry and wanted to keep or increase its penetration into the country.
Obviously, the investigation threw a bit of a monkey wrench into its plans. As part of that $150 million investment it set up in the summer, Qualcomm is committing $40 million of it to 7Invensun, Chukong Technologies, inPlug, Unisound, and China Walden Venture Investments, a funding organization for technology.
Nagraj Kashyap, senior VP of Qualcomm Ventures, said in a statement the group of startups the company has invested in “closely complements existing products and services” that Qualcomm plays in and that the company is “committed to helping advance the Chinese wireless industry.”
Here is a breakdown of the companies Qualcomm has invested in:
- 7Invensun focuses on eye-tracking technology used in medical and health, virtual reality and movie entertainment for both consumers and industries.
- Chukong Technologies operates a mobile entertainment platform in order to develop, publish and monetize content for mobile entertainment networks.
- inPlug develops smart home devices such as smart plugs, smart switches and infrared control stickers.
- Unisound is a voice recognition service middleware and platform supplier for mobile Internet, smart appliance, wearables, on-car navigation, healthcare, education and call centers.
- Walden International has invested in semiconductor, Internet, digital media, software and emerging technology companies for 25 years.