SAN DIEGO, Dec. 11, 2014 /PRNewswire/ -- Qualcomm
Incorporated (NASDAQ: QCOM) today announced that it and its
subsidiaries have committed to invest an aggregate of $40M into four Chinese companies and the China
Walden Venture Investments, L.P. fund, which is primarily focused
on investing in semiconductor or semiconductor-related companies
with business in China. Qualcomm
is pleased to announce that 7Invensun, an eye-tracking solution
provider; Chukong Technologies, a mobile entertainment platform
provider; inPlug, a smart home device/platform solution provider;
Unisound, a voice recognition and processing technology provider;
and the China Walden Ventures Investment are all expected to be
funded through the Company's $150
Million strategic China
venture fund that was announced earlier this year.
The selected companies were strategically chosen for their
innovative work on mobile and wireless technologies:
- 7Invensun focuses on research and development of eye-tracking
technology, widely applied in the field of medical & health,
virtual reality and movie entertainment, providing a new generation
of human-machine interaction experience for enterprises and
individuals.
- Chukong Technologies operates an innovative mobile
entertainment platform, offering a full suite of solutions and
services to enable developers worldwide to efficiently develop,
publish and monetize content and providing a highly engaging mobile
entertainment experience to users.
- inPlug is a smart home platform solution provider, whose key
technology is centered on network virtualization utilizing Software
Defined Network, with which comprehensive smart control on home
network can be realized. Its current 'Light Smart Home' devices
series includes smart plug, smart switch, and infrared control
sticker.
- Unisound has launched a series of voice recognition service
middleware and platforms, which have been widely deployed in mobile
Internet, smart appliance, wearables, on-car navigation,
healthcare, education, and call centers by providing professional
voice recognition service to enterprises and consumer users.
- Walden International is one of the pioneers in venture
investing in China with more than
25 years of experience investing in companies across
semiconductors,Internet and digital media, software and IT
services, and emerging technologies.
"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. 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."
Qualcomm Ventures, the investment arm of Qualcomm, was
formalized in 2000 and currently has a portfolio of more than 120
active companies across the globe. Qualcomm Ventures also invests
in seed stage companies through its QPrize™ Mobile Internet Startup
Competition which evaluates and awards seed funding for promising
early stage Chinese entrepreneurs.
For more information please visit www.qualcommventures.com.
About Qualcomm Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G
and next-generation wireless technologies. Qualcomm Incorporated
includes Qualcomm's licensing business, QTL, and the vast majority
of its patent portfolio. Qualcomm Technologies, Inc., a
wholly-owned subsidiary of Qualcomm Incorporated, operates, along
with its subsidiaries, substantially all of Qualcomm's engineering,
research and development functions, and substantially all of its
products and services businesses, including its semiconductor
business, QCT. For more than 25 years, Qualcomm ideas and
inventions have driven the evolution of digital communications,
linking people everywhere more closely to information,
entertainment and each other. For more information, visit
Qualcomm's website, OnQ blog, Twitter and Facebook pages.
QPrize is a trademark of Qualcomm Incorporated, registered in
the United States and other
countries.
Qualcomm Contacts:
Tina Asmar, Corporate
Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
Warren Kneeshaw, Investor
Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
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SOURCE Qualcomm Incorporated