Qualcomm Ventures invests $40m in Chinese start-ups

The four start-ups are: 7Invensun, an eye-tracking solution provider; Chukong Technologies, a mobile entertainment platform provider; inPlug, a smart home device solutions specialist; and Unisound, a voice recognition and processing technology provider.

The aggregate $40 million - which comes from Qualcomm's $150 million strategic China venture fund that was launched in July - also includes the commitment to the Walden fund. That vehicle focuses exclusively on investments in semiconductors or semiconductor-related companies within China.

"Qualcomm is passionate about innovation and committed to helping advance the Chinese wireless industry," said Nagraj Kashyap, senior vice president of Qualcomm Ventures. "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."

Qualcomm Ventures was set up in 2000 and currently has a portfolio of more than 120 active companies across the globe and around 20 GP relationships. Its other investments in China include mobile education start-up Cambridge Wowo and mobile healthcare platform Boohee.

Previous exits include Enorbus, which was acquired by Walt Disney; Aicent, which was acquired by TA Associates, and NetQin, which went public in the US in 2011. The corporate VC also provides seed stage funding for Chinese entrepreneurs through the QPrize competition.

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• Topics
• Greater China
• Venture
• Early-stage
• Technology
• China
• Venture
• Qualcomm Ventures
• Technology