The investments will be made through its 'Strategic AI Venture Fund' in startups across all stages, with a particular focus on AI for automotive, IoT, robotics, and mobile.

The announcement was made on the sidelines of the India AI Impact Summit being held in New Delhi, which was attended by Qualcomm CEO Cristiano Amon.

The executive noted that AI is entering a new phase from software-led to now being integrated in everyday use scenarios, including smartphones, computers, cars and industrial machines. "This shift will reshape entire industries, and India's startup ecosystem has a critical role to play as edge AI drives innovation across sectors," Amon said.

Hence, the venture fund will focus on startups that are building edge AI and technologies with real-world industrial impact, including intelligent computing and wireless technology, given Qualcomm's top positioning in the global telecom industry.

Apart from capital, Qualcomm will aid startup founders with its technology expertise, global industry network and support through the venture fund's regional India team.

Qualcomm Bets On Indian Deeptech

It seems capital from the fund has already started flowing in. Offline digital payments startup ToneTag announced that it has raised an undisclosed amount from Qualcomm Ventures.

The startup's board approved the resolution to raise funds from Qualcomm on January 8 via private placement of 343 compulsorily convertible preference shares (CCPS) amounting to ₹35.16 Cr ($3.8 Mn), according to company's filings with the MCA.

The startup, which focuses on sound-wave based communication protocols, will use the funds to launch edge AI-powered payment modules that work on sound waves rather than cards or apps. It builds audio-based authentication and proximity payment solutions for online and offline commerce.

The Bengaluru-based startup's propriety protocol relies on audio frequencies to transmit encrypted payment data without the need for bluetooth or internet connectivity. It is designed to work with existing hardware such as speakers and microphones already embedded in devices. It claims to process over 25 Mn transactions daily, representing more than $3 Bn in monthly transaction value.

Founded in 2013 by Vivek Singh and Kumar Abhishek, the startup last raised $78 Mn in its Series B2 round co-led by ValueQuest Scale Fund and Iron Pillar.

In the past, Qualcomm has invested across sectors, especially ones that align with its own core technologies like telecom and wireless. Some of its top portfolio companies include Jio Platforms, MapmyIndia, ideaForge, and Shadowfax.

Most recently, Qualcomm Ventures invested $8 Mn in AI-driven enterprise tech startup SpotDraft in its Series B extension round.

In the past, it has also partnered with the Ministry of Electronics and Information Technology to provide mentorship, technical training, and industry outreach to Indian startups through its Centre for Development of Advanced Computing (C-DAC).

The investment commitment came as IT Minister Ashwini Vaishnav announced that Indian companies building AI technologies can expect to receive investments worth $200 Bn in the next two years. The ongoing AI Impact Summit has provided a significant boost to the budding sector, with investment firms and state governments committing funds at a significant pace.