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Qualcomm is a number one expertise participant, which has now invested Rs 730 crore in Jio Platforms and picked up a 0.15 % stake in change.
- Information18.com
- Last Updated: July 12, 2020, 9:45 PM IST
Qualcomm, one in every of the world’s largest and most impactful expertise corporations, has invested in Reliance Jio Platforms. The Qualcomm Ventures funding is value Rs 730 crore, for a 0.15 % stake in the firm. With the funding, Qualcomm has joined Facebook, Silver Lake, Vista Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L. Catterton, PIF and Intel Capital, all of which mixed has seen Jio Platforms increase a complete of Rs 1,18,318.45 crore in funding in change for 25.24 % stake in the firm. Jio Platforms is valued at fairness worth of Rs 4.91 lakh crore, and enterprise worth of 5.16 lakh crore. So, who’s Qualcomm, and what does it carry to the desk?
1. Qualcomm is a expertise first firm. It performs an unbeatable function thanks to its processor enterprise that fuels an enormous part of the world’s Android smartphones. Qualcomm’s chipset enterprise offers it a commanding place in the world smartphone, community expertise, automotive, IoT and different units, which additional positions it effectively to gauge the growing expertise business.
2. Qualcomm can also be a number one community and communications participant, and its work on 5G community gear is main the world in direction of subsequent era connectivity providers. At the second, Qualcomm’s 5G modems are amongst the main 5G modems round, with main units akin to most of the world’s flagship smartphones slated to use Qualcomm’s subsequent era expertise.
3. The funding in Jio comes by way of Qualcomm Ventures, which is famous as one in every of the world’s main enterprise capital funding teams. Under Qualcomm Ventures, the major space of funding consists of startups concentrating on the wi-fi ecosystem in sectors akin to automotive, information centre and enterprise, digital well being, IoT and mobiles.
4. Qualcomm has invested over $62 billion in cumulative R&D, and holds over 1.Four lakh patents and patent functions in key areas of expertise. With over 35 years of historical past in expertise innovation, Qualcomm might help Jio Platforms scale new heights by way of its function in revolutionising India’s expertise panorama.
Commenting upon the funding, Mukesh Ambani, chairman and managing of Reliance Industries, stated, “Today, I am delighted to welcome Qualcomm Ventures as an investor in Jio Platforms. Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India. As a world leader in wireless technologies, Qualcomm offers deep technology knowhow and insights that will help us deliver on our 5G vision and the digital transformation of India for both people and enterprises.”
Steve Mollenkopf, CEO of Qualcomm Inc, stated upon the funding, “With our shared goal of extending the benefits of digital connectivity to everyone and everything, we anticipate Jio Platforms will deliver a new set of services and experiences to Indian consumers. With unmatched speeds and emerging use cases, 5G is expected to transform every industry in the coming years. Jio Platforms has led the digital revolution in India through its extensive digital and technological capabilities. As an enabler and investor with a longstanding presence in India, we look forward to playing a role in Jio’s vision to further revolutionise India’s digital economy.”
Disclaimer:Information18.com is a part of Community18 Media & Investment Limited which is owned by Reliance Industries Limited that additionally owns Reliance Jio.
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