Qualcomm Ventures

Qualcomm Ventures, established in 2000, is the corporate venture capital arm of Qualcomm Incorporated. Headquartered in San Diego, California, it has a global presence with offices in seven regions, including San Francisco, Israel, Europe, China, India, Latin America, and Korea. Qualcomm Ventures focuses on investing in startups within sectors aligned with Qualcomm’s core business areas, such as the wireless ecosystem, automotive, data centre and enterprise, digital health, Internet of Things (IoT), 5G, and mobile technologies.

With over 150 active portfolio companies, Qualcomm Ventures has been involved in several notable exits. These include investments in companies like Cruise Automation, Fitbit, Ring, Waze, and InvenSense, all of which were acquired for over $1 billion. Qualcomm Ventures has also had investments in companies like 99 Taxis, NQ Mobile, and many others.

In 2018, Qualcomm Ventures announced a $100 million fund aimed at investing in artificial intelligence (AI), specifically focusing on on-device AI. This AI runs on devices like smartphones and vehicles rather than relying on cloud computing, aligning with Qualcomm’s strategy to develop low-latency and high-efficiency technology.

Qualcomm Ventures also co-led a $25 million Series C funding round for the Swedish VR game studio Resolution Games in 2021. Additionally, it invested in the IoT startup FloLive, in collaboration with Intel Capital and Dell Technologies.

Qualcomm Ventures was founded in 2000 as the corporate venture capital arm of Qualcomm Incorporated. The venture was established to invest in startups that align with Qualcomm’s core technologies, especially in sectors that target the wireless ecosystem. Over the years, it expanded its investment focus to include automotive, data centre and enterprise, digital health, Internet of Things (IoT), and mobile technologies. Qualcomm Ventures plays a key role in supporting the company’s broader strategy by identifying early-stage companies that are driving innovation in these sectors.

One of the early successes of Qualcomm Ventures was its investment in Cruise Automation, a self-driving car technology company. In 2016, Cruise was acquired by General Motors for over $1 billion, marking a major exit for the venture arm. Similar exits followed, including investments in Fitbit (acquired by Google), Ring (acquired by Amazon), Waze (acquired by Google), 99 (app), and InvenSense.

In 2018, Qualcomm Ventures announced a significant initiative to invest $100 million in artificial intelligence (AI), particularly focusing on on-device AI. On-device AI processes data directly on devices such as smartphones or cars, rather than in the cloud, making it more efficient and reducing latency. This initiative further strengthened Qualcomm’s AI strategy, which complements its efforts in mobile technology. Qualcomm's focus on AI spans across applications such as computer vision, voice recognition, and natural language processing.

In 2021, Qualcomm Ventures participated in significant funding rounds. Notably, it co-led a $25 million Series C funding for the Swedish VR games studio Resolution Games. This raised the studio’s total funding to $38.5 million. Qualcomm Ventures also joined Intel Capital and Dell Technologies to invest in FloLive, a London-based IoT startup, as part of its broader efforts to expand in the IoT space. Additionally, Qualcomm Ventures continued its involvement in 5G technologies, further expanding investments into companies that develop 5G infrastructure and applications.

By 2023, Qualcomm Ventures was managing a portfolio of over 140 active companies, with several prominent exits exceeding $1 billion in value. However, in July 2023, it faced scrutiny from the U.S. House Select Committee on Strategic Competition for its investments in China, which led to an investigation into the firm’s role, along with other venture capital entities.

Presently, Qualcomm Ventures continues to support startups worldwide, with investments in sectors ranging from 5G, automotive technologies, cloud, IoT, and AI. It operates from its headquarters in San Diego, California, with additional offices across the United States, Europe, Israel, China, India, Latin America, and Korea. Through its global presence, Qualcomm Ventures connects entrepreneurs to essential resources, expertise, and technology networks, contributing to the success of innovation-driven companies.

Qualcomm Ventures invests in startups that align with Qualcomm’s core technologies and strategic goals. Their investment criteria focus on supporting companies that drive innovation in sectors related to Qualcomm's business. Below are the key investment criteria:

• Sector Focus: Qualcomm Ventures targets startups in sectors that align with Qualcomm’s expertise. These include wireless technology, automotive, 5G, artificial intelligence (AI), cloud computing, digital health, and the Internet of Things (IoT). Qualcomm Ventures seeks to invest in businesses that are pushing technological advancements in these areas, especially those developing solutions that can transform the future of connectivity and mobile technology.
• Technology Innovation: The venture arm prioritises startups that offer innovative solutions based on advanced technology. Qualcomm Ventures is particularly interested in startups working on on-device AI, which processes data on the device rather than in the cloud, creating more efficient and faster operations. This focus on AI, along with innovation in 5G, IoT, and cloud computing, helps Qualcomm stay at the forefront of technological evolution.
• Stage of Investment: Qualcomm Ventures invests in early-stage to late-stage startups, as well as in seed investments. This flexibility allows them to support companies at different stages of growth, from initial development to larger-scale operations. Startups at these stages are offered access to Qualcomm’s vast network of industry experts and partners.
• Global Presence: Qualcomm Ventures looks for startups worldwide, with a particular focus on regions where it already operates, such as the United States, Europe, Israel, China, India, Latin America, and Korea. Startups in these regions benefit from Qualcomm’s deep understanding of local markets, while also gaining access to global opportunities through Qualcomm’s extensive network.
• Strong Leadership Teams: Qualcomm Ventures emphasises the importance of strong founding teams. The leadership must have a clear vision and the ability to execute their business plan effectively. Companies with experienced and adaptable teams are favoured, as they are better equipped to navigate the challenges of scaling and sustaining growth.
• On-Device AI and 5G Focus: Qualcomm Ventures places particular importance on companies that are advancing on-device AI and 5G technologies. These areas are critical for the future of connected devices and mobile technology. Qualcomm Ventures seeks startups that are building solutions which can leverage 5G’s low latency and high-speed connectivity, as well as on-device AI’s capability to process data locally for better performance.
• Long-Term Growth Potential: Startups must demonstrate the potential for long-term growth. Qualcomm Ventures looks for companies that have a scalable business model, a clear path to profitability, and the ability to capture significant market share. Companies that are positioned to lead innovation in their respective industries are seen as attractive investment opportunities.

Qualcomm Ventures is driven by a set of core values that guide its investment strategy and partnerships with startups. These values reflect Qualcomm's broader mission to advance technology and create meaningful impact in the world. Below are the key values that Qualcomm Ventures upholds:

• Innovation: Qualcomm Ventures places a strong emphasis on innovation. The venture arm is committed to supporting startups that push the boundaries of technology, especially in sectors like 5G, artificial intelligence (AI), Internet of Things (IoT), and mobile technology. Qualcomm Ventures values companies that bring new ideas and cutting-edge solutions to the market, helping to shape the future of connectivity and digital transformation.
• Global Collaboration: Qualcomm Ventures values global collaboration and recognises the importance of a diverse, international network. With offices in the United States, Europe, Israel, China, India, Latin America, and Korea, Qualcomm Ventures connects entrepreneurs with resources and expertise across different regions. This global approach allows the venture arm to foster collaboration and share knowledge that benefits both startups and the larger ecosystem.
• Entrepreneurial Support: A key value of Qualcomm Ventures is its commitment to supporting entrepreneurs through every stage of growth. The venture arm believes in providing more than just financial backing. Qualcomm Ventures offers startups access to technical expertise, industry connections, and business guidance, ensuring they have the tools needed to succeed. This ongoing support is central to Qualcomm Ventures' relationship with its portfolio companies.
• Integrity and Trust: Qualcomm Ventures values integrity and trust in all of its partnerships. The venture arm works to build long-term relationships based on mutual respect and transparency. Qualcomm Ventures understands the challenges faced by startups and strives to offer honest and reliable guidance. This trust-based approach ensures that startups can rely on Qualcomm Ventures as a true partner in their journey.
• Sustainability and Impact: Qualcomm Ventures is committed to creating a positive impact through its investments. The venture arm values technologies that contribute to a more sustainable future, whether through reducing environmental footprints, improving healthcare outcomes, or enhancing global connectivity. Qualcomm Ventures supports companies that align with its broader goal of using technology to solve real-world challenges and improve lives.
• Long-Term Vision: Qualcomm Ventures believes in taking a long-term approach to its investments. The venture arm focuses on startups that have the potential to drive sustained innovation and growth. By investing in companies that are shaping the future of wireless technology, AI, IoT, and cloud computing, Qualcomm Ventures ensures that its investments contribute to lasting industry transformation.

The mission of Qualcomm Ventures is to support and invest in startups that drive innovation in 5G, artificial intelligence (AI), Internet of Things (IoT), and other advanced technologies. Qualcomm Ventures aims to identify and back entrepreneurs who are developing cutting-edge solutions that align with Qualcomm's broader technological goals. By providing financial backing, technical expertise, and access to global networks, Qualcomm Ventures helps startups grow, scale, and succeed. Their mission is to contribute to the advancement of wireless and mobile ecosystems while fostering long-term growth and impactful innovation.

Qualcomm Ventures has built a diverse portfolio of more than 150 active companies across various sectors. Its portfolio spans industries that align with Qualcomm’s focus on 5G, artificial intelligence (AI), Internet of Things (IoT), automotive, cloud computing, and mobile technology. The venture arm invests in startups at different stages of growth, from early-stage to late-stage companies. Some notable companies are:

• Cruise Automation: A self-driving car technology company, acquired by General Motors for over $1 billion, focusing on autonomous vehicle development.
• Fitbit: A leader in wearable health technology, offering fitness and health-tracking devices. It was acquired by Google.
• Ring: Specialising in smart home security, Ring produces video doorbells and home monitoring systems. Acquired by Amazon.
• Waze: A GPS navigation application that offers real-time traffic and route planning, acquired by Google.
• Invensense: A provider of motion-tracking sensors used in consumer electronics, later acquired by TDK.
• 99 (App): A Brazilian ride-hailing service, offering a local alternative to global competitors, later acquired by DiDi Chuxing.
• Resolution Games: A virtual reality (VR) game studio from Sweden, developing immersive gaming experiences. Qualcomm Ventures co-led their Series C funding.
• FloLive: A cloud-based connectivity platform for IoT devices, enabling the global management of data and devices.
• Hugging Face: An AI research company known for its transformer models, specialising in natural language processing (NLP) tools and AI model development.
• Anthropic: Focused on AI safety and research, Anthropic develops AI systems that are interpretable, reliable, and aligned with human values.
• Matterport: A 3D spatial data company that digitises physical spaces, creating digital twins for sectors like real estate, construction, and more.
• Cohesity: A data management company simplifying backup, storage, and data recovery across cloud environments for enterprises.
• Cloudflare: A web infrastructure and security company, providing CDN services and protection against cyberattacks like DDoS.
• RealWear: A wearable device for industrial workers, allowing hands-free communication and data access in tough work environments.
• Innovium: A semiconductor company that creates high-performance Ethernet switch solutions for data centres, acquired by Marvell Technology.
• Airspan: A key player in wireless broadband solutions, focusing on 5G infrastructure for industries like smart grids and public safety.
• Zoom: A leader in video conferencing and virtual collaboration tools, offering secure and scalable solutions for global communication.
• Anthropic: An AI research company focused on building safe, interpretable, and human-aligned AI systems, contributing to the development of ethical AI.
• Frore Systems: Developer of cooling solutions for consumer electronics, improving device performance and heat management through innovative technologies.
• Affirmed Networks: Specialises in virtualised, cloud-native mobile network solutions, powering 5G and telecom services, acquired by Microsoft.