US-based semiconductor technology company Qualcomm and its subsidiaries have committed a combined $40m to four China-based companies and the China Walden Venture Investments fund.
The four companies receiving investment are eye-tracking technology developer 7Invensun, mobile entertainment platform provider Chukong Technologies, smart home devices management service inPlug and voice recognition and processing developer Unisound. Individual investment amounts were not disclosed.
The China Walden Venture Investments fund focuses on semiconductor and semiconductor-related companies operating in China. It has been investing for more than 25 years.
The ffunding is being provided through the $150m strategic China-focused venture fund Qualcomm launched in July 2014. It targets mobile technologies related to the internet, e-commerce, semiconductors, education and health.
Nagraj Kashyap, senior vice president of Qualcomm’s corporate venturing unit, Qualcomm Ventures, said: “Qualcomm is passionate about innovation and committed to helping advance the Chinese wireless industry.
“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.”