Qualcomm announces investment in Mobike plus eight other Chinese startups

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Qualcomm announces investment in Mobike and eight other Chinese startups

Qualcomm is ongoing its charm offensive in China and taiwan, a critical market where it has experienced hard blows in recent years including the $1 billion anti-trust fine, right after it announced a flurry of recent investments.

These are disorderly times for Qualcomm, which is fielding unwanted acquisition interest from Broadcom and battling Apple in courtroom, but today it put the concentrate back on supporting upcoming technology, albeit for a brief moment. The particular firm said it has invested in 9 companies based in China using its $150 million China Venture Fund announced within 2014 which span internet-of-things, big information, artificial intelligence and more.

Most prominent of the nine is bike-sharing giant Mobike, which has over 100 million users in China and it is making international moves,  while fast-growing $1. 5 billion-valued AI startup SenseTime, which raised a $410 million Collection B round in July, can be another name with existing pedigree.

Mobike has worked closely with Qualcomm over its international expansion, which usually uses a single platform to enable any one of its bikes to be deployed rapidly to any international market, but this is actually the first time that an investment has been uncovered.

The deal with SenseTime, in the meantime, has not yet been disclosed however it is reportedly part of a $500 million round, which would be the biggest financing round for an AI new venture worldwide to date.

These 2 unicorns aside, the other startups consist of:

  • Creatcomm Technology â€? which usually provides long distance wireless video/data tranny solutions.
  • Kneron â€? a good on-device AI solution provider having a focus on software re-configuration
    and hardware compression setting. Qualcomm took part in its Collection A round alongside investors such as Alibaba’s Entrepreneurs Fund and Sequoia.
  • Element Zone â€? which builds up software and services to power unattended convenience stores. That’s a growing tendency that Alibaba, among others, is discovering to blend offline commerce along with online. Qualcomm clarified that this expenditure is agreed in principle yet hasn’t closed yet
  • Microduino â€? the company behind the world’s smallest series of Arduino-compatible smart quests that can be used for a variety of DIY tasks and education purposes.  TechCrunch profiled the company and its products at TOUS CES 2016.
  • Magic AI â€? which is building a platform to create artificial intelligence, virtual reality and increased reality to specific industries plus verticals. Its first product, StableGuard, is an AI-powered monitoring and notify system for horse stables.
  • Beijing Agriculture Consultant plus Smart Management (ACSM) â€? the follow-up investment in this company which gives intelligent systems to help farmers provide industrial efficiency to their business.
  • Alo7 â€? an on-line tutoring startup which operates the “fully immerse” English-language study environment intended for educating primary school children. This really is also a follow-on investment.

“This group of innovative companies focuses on AI, IoT and other areas. We strive to help these companies make their ideas and creativity a reality, by providing financial, technology and business support. Qualcomm Ventures will continue to enable innovation among startups in the frontier tech areas, and help grow the entire industry,” Quinn Li, VP and global mind of Qualcomm Ventures, said inside a statement.

Qualcomm’s China opportunity business has close to 40 profile companies today. It branched out there into what it calls “frontier technologies” within 2015 to put the focus on forthcoming tech such as AI, internet-of items, machine learning and VR.

The U. S. firm introduced a similar batch of investment offers back in late 2015, and this newest round of deals comes from the back of some serious politicking in China, a market that makes up about more than half of its revenue.

During President Trump’s visit to China, Qualcomm announced deals with three top cellular makers â€? Xiaomi, Vivo plus Oppo â€? to sell upwards of $12 billion in components for their gadgets. Just weeks before, Qualcomm attemptedto trigger a ban the sale of Apple’s iPhone in China in an extension of the two firm’s global obvious spat.

Apple is said to get designed upcoming iPhones that do not really include Qualcomm’s chips, and the company is claiming that, in doing this, the phone maker has taken advantage of the “unprecedented access” to its tech.

These deals might go just a little way to currying additional favor within China, but it shouldn’t be neglected that Apple has also invested in Chinese language tech startups, too. The company inked a rare investment when it place $1 billion into Didi Chuxing as part of a gargantuan $5. five billion raise for the taxi hailing company last year.

Featured Image: Justin Sullivan/Getty Images

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