American semiconductor and telecommunications equipment firm Qualcomm has launched Qualcomm Ventures AI Fund to invest in startups focused on artificial intelligence
The US$100mn fund will invest more specifically in firms which “share the vision of on-device AI becoming more powerful and widespread,” according to Qualcomm’s press statement.
“At Qualcomm, we invent breakthrough technologies that transform how the world connects, computes, and communicates,” said Steve Mollenkopf, Qualcomm CEO, in the statement.
“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.”
Qualcomm Ventures was recently involved in the Series A funding round for AnyVision, a world-leading startup focused on face, body, and object recognition technology.
AnyVision uses emergent AI technology to minimise the spread of data and enhance privacy.
“Qualcomm Ventures is proud to invest in the future of AnyVision and many other key players in the AI industry,” said Quinn Li, Global Head of Qualcomm Ventures.
“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.”