Qualcomm Ventures was given management of a $100m life fund to invest in wireless technology for medical devices yesterday.
The corporate venturing fund of US-based semiconductor and telecommunications conglomerate Qualcomm was given management of the Qualcomm Life fund.
The funds will come from the existing allocation for Qualcomm Ventures, with an aim to help roll out Qualcomm’s 2net Platform, managed by its newly formed Qualcomm Life unit, as well as other wireless health initiatives.
Qualcomm Ventures has already invested in five wireless health companies – Sotera Wireless, Telcare, AliveCor, Cambridge Temperature Concepts and WorkSmart Labs-and these investments will be part of the fund.
The fund expects to make investments in biosensors or devices for chronic disease care, medication compliance and fitness or wellness; systems which enable independent living; software health IT applications: and health-related analysis.