News Article
Qualcomm Incorporated seeks opportunities in India
The company said it would invest in Indian wireless and semiconductor start up firms.
Qualcomm Ventures' first direct equity investment in India is in Tessolve Services Pvt Ltd, a provider of solutions and platform for semiconductor testing, packaging, qualification and failure analysis.
Qualcomm Ventures' will focus on Indian start ups and private companies that can serve the mobile and semiconductor ecosystem in India through innovation in the following sectors: mobile application/platform software developers, semiconductor components, devices and service platforms and network infrastructure providers.
In addition, Qualcomm Ventures will work with its portfolio companies to provide strategic guidance, advice 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 Kanwalinder Singh, president, Qualcomm India and South Asia. "By bringing our investment and expertise to Indian start ups, we hope to help innovative ideas reach commercial success in the rapidly growing wireless and semiconductor space."
"Qualcomm Ventures is actively considering opportunities in the Indian wireless and semiconductor market," said Karthee Madasamy, senior investment manager and head of India investments. "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."
