Qualcomm unveiled an AI-focused investment fund, Qualcomm Ventures AI Fund, that will steer up to $100 million to startups working with artificial intelligence. The fund will emphasize technologies being developed for autonomous cars, robotics and machine learning platforms.
Qualcomm also said Qualcomm Ventures made its first investment from the fund by participating in a Series A round for AnyVision.
A press release follows:
Qualcomm Launches $100M AI Investment Fund
Qualcomm Ventures Announces Investment in AnyVision, a World-Leading Face, Body, and Object Recognition Startup, at its 5G & AI Summit in San Francisco
SAN FRANCISCO – November 28, 2018 – Qualcomm Incorporated (NASDAQ: QCOM) today announced the launch of the Qualcomm Ventures AI Fund to invest up to an aggregate of $100 million in startups transforming artificial intelligence. The fund will focus on startups that share the vision of on-device AI becoming more powerful and widespread, with an emphasis on those developing new technology for autonomous cars, robotics and machine learning platforms. This fund builds on more than a decade of Qualcomm’s AI research and its heritage of developing the foundational building blocks of low power processing and connectivity, which are essential for AI.
Qualcomm has set out to make on-device AI technology ubiquitous by inventing, developing, commercializing and, importantly, investing in it. As AI shifts towards the wireless edge – combining essential on-device capabilities with the edge cloud – the industry is already starting to see the full potential of 5G. Qualcomm’s ambitious 5G vision and strategic commitment to on-device AI goes hand in hand with mobile becoming the pervasive AI platform.
“At Qualcomm, we invent breakthrough technologies that transform how the world connects, computes, and communicates,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “For over a decade, Qualcomm has been investing in the future of machine learning. As a pioneer of on-device AI, we strongly believe intelligence is moving from the cloud to the edge. Qualcomm’s AI strategy couples leading 5G connectivity with our R&D, fueling AI to transform industries, business models and experiences.”
As part of the AI Fund, Qualcomm Ventures LLC participated in a Series A funding round for AnyVision, a world-leading face, body, and object recognition startup. AnyVision’s use of on-device AI minimizes the spread of data, mitigating privacy concerns. Its unique data acquisition strategy, together with its proprietary algorithms, are expected to provide immense value to customers. This investment – the first made by the AI fund – will further AnyVision’s efforts to expand into other industries and develop new AI applications that transform how the world connects, computes and communicates. The announcement was made at Qualcomm Ventures’ 5G & AI Summit in San Francisco, where influential leaders in AI convened to discuss applications of the technology in different industry verticals.
“Qualcomm Ventures is proud to invest in the future of AnyVision and many other key players in the AI industry,” said Quinn Li, senior vice president, Ventures, Qualcomm Technologies, Inc. and global head of Qualcomm Ventures. “This investment builds on our long history of successful AI investments, including Cruise Automation, Brain Corp., Clarifai, Prospera, SenseTime and Retail Next. Through the AI Fund, we’ll continue to seek out startups, with a focus on autonomous cars, robotics, computer vision and IoT, who are developing new AI applications, advanced machine learning technologies and AI/ML platforms across different verticals.”
The Qualcomm Ventures team has a demonstrated track record of investing in some of the top global AI startups. The AI Fund will continue to invest in those that share Qualcomm’s vision of making on-device AI ubiquitous. Qualcomm’s cutting-edge research, strong mobile footprint and leading development of 5G and AI will allow Qualcomm Ventures to serve as an ideal investor in AI startups bringing the next wave of innovation. Their success will provide significant value to many industries and billions of people.
Qualcomm invents breakthrough technologies that transform how the world computes, connects and communicates. When we connected the phone to the Internet, the mobile revolution was born. Today, our inventions are the foundation for life-changing products, experiences, and industries. As we lead the world to 5G, we envision this next big change in cellular technology spurring a new era of intelligent, connected devices and enabling new opportunities in connected cars, remote delivery of health care services, and the IoT — including smart cities, smart homes, and wearables. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, all of our engineering, research and development functions, and all of our products and services businesses, including the QCT semiconductor business. For more information, visit Qualcomm’s website, OnQ blog,Twitter and Facebook pages.
About Qualcomm Ventures
As the Venture Capital investment group of Qualcomm Incorporated, a world leader in next-generation wireless technologies, Qualcomm Ventures, through affiliated entities, including Qualcomm Ventures LLC, has been making strategic investments in technology companies that have the potential to dramatically transform our world since 2000. As a global investor, we’re focused on building the connections that bring our mobile future forward. For more information please visit: www.qualcommventures.com.