Qualcomm to invest $150 million in Indian startups

Qualcomm Ventures will advise and direct Qualcomm’s activities with respect to these strategic investments. Qualcomm directly invests in Indian mobile and internet start-up companies to keenly foster the local ecosystem. Portfolio companies include Yourstory, a media tech platform for entrepreneurs; Portea Medical, an in-home healthcare provider; and MapMyIndia, a provider of digital map, navigation, and tracking products and services. “We are committed to providing local innovative start-ups with the support needed to help India’s IOE ecosystem grow, increasing consumer choice and availability,” said Dr. Paul E. Jacobs, executive chairman, Qualcomm Incorporated. “Since Qualcomm’s first India investment in 2007 and with full-fledged presence starting in early 2008, we continue to invest broadly to strengthen India’s overall economy,” said Nagraj Kashyap, senior vice president of Qualcomm Incorporated. “We are committed to providing these companies with the support needed to help propel them forward in the competitive Indian region. We’re excited about the new prospects in India and look forward to growing our portfolio.”