Qualcomm announced its intention to invest up to $150 million through a strategic AI venture fund to support India-based startups building the next generation of AI-driven innovation across automotive,
IoT, robotics, compute and mobile.
This marks Qualcomm’s second India-focused fund, the first launched in 2015, and underscores our long-standing conviction in India’s role as one of the world’s most dynamic technology ecosystems.
Qualcomm Ventures has been investing in India-based startups since 2007. Over nearly two decades, we’ve navigated several economic and technology cycles in India and around the globe. During that time, we’ve seen the Indian startup landscape evolve through three distinct eras, each defined by major shifts in connectivity, digital adoption, founder ambition, and technological capability.
The Early Internet Era (2005 – 2014): Laying the Digital Foundation:
In the mid-2000’s, India’s internet penetration stood at roughly 30 million people. The nation was operating on 2G data networks, and many citizens accessed high-speed internet primarily through cyber cafes. Startups of this era largely focused on digitizing traditional industries, offering tech-enabled services, and modernizing retail and trade.
It was during this era that Qualcomm Ventures made some of its earliest India investments:
- MapmyIndia, a pioneering deep-tech company in mapping and geospatial data for India (later becoming a unicorn following its 2021 public listing).
- Capillary Technologies, a brand loyalty platform, grew into a sizeable global business and became a listed company in November 2025.
Midway through this era, smartphones and 3G began to rise. Recognizing the scale of the impending transformation, Qualcomm launched its first $150M India-focused fund in 2015 to accelerate the growth of smartphones, mobile internet and enterprise software.
The Mobile Era (2014 – 2024): A Leap to Mass Adoption
India’s digital inflection point arrived with Jio’s, (a Qualcomm Ventures portfolio company) nationwide 4Grollout, expanding the connected population more than tenfold to over 350 million subscribers. This connectivity revolution catalyzed explosive growth in e-commerce, fintech, edtech and consumer internet.
A defining moment for startups came in 2014, when Flipkart’s landmark $1B fundraise signaled that Indian startups were ready to scale globally. Founder ambition shifted dramatically, from mid-career professionals returning to India, to a new generation of entrepreneurs choosing innovation as their primary career path. Their focus on solving India’s biggest challenges—marked the beginning of a new era.
Qualcomm Ventures invested in several category-defining companies during this transformative period:
- Shadowfax, (publicly listed in Jan 2026) which built the last-mile delivery logistics for ecommerce and food delivery, infrastructure that later enabled India’s “<10 minute” quick commerce revolution.
- boat, which proved that global-quality hardware and consumer tech brands can be built in India.
This era also marked the acceleration of India’s deep-tech movement. Qualcomm Ventures invested in:
- ideaForge, a leader in unmanned aerial systems
- Ultraviolette, an advanced EV mobility company
- Tonbo Imaging, a developer of cutting-edge electro-optics products
- Cavli Wireless, an enabler of global IoT deployment
Beyond our portfolio, other venture backed startups demonstrated India’s growing capability in applied research, engineering, and advanced manufacturing. India’s deep-tech had taken root.
The AI Era (2025 – present): India’s Next Inflection Point
Since the acceleration of generative AI in 2022, AI has captured the attention of industries, policy makers and consumers worldwide. Its impact is projected to surpass even that of the internet era—reshaping economies, industries, and everyday life at unprecedented speed.
India is uniquely well-positioned for this moment.
It’s rapid adoption of mobile and digital technologies to solve population-scale challenges—from universal banking access to digital payments—has created a strong foundation for AI innovation. This is particularly true for Edge AI, where intelligence runs directly on devices, delivering real-time, personal, power-efficient, secure and more affordable AI experiences.
This is where Qualcomm’s strategy and India’s opportunity strongly align.
Qualcomm is building the technology foundation for AI to run everywhere, across smartphones, PCs, automotive, robotics, wearables, and IoT, powered by high performance and low-power computing and connectivity including advancements such as 6G, which will enable even richer intelligent experiences.
As India hosts the AI Impact Summit in New Delhi, our renewed commitment to India’s AI future comes at a pivotal moment.
Investing in India’s Next Generation of AI Innovators
We’ve already begun investing in next-generation Indian startups advancing AI adoption across sectors:
- TestMU AI (formerly Lambda Test), provides a unified platform for automating testing, execution, and insights—helping teams validate and ship AI-powered applications faster. When paired with the Qualcomm AI Hub, developers can test and deploy AI-powered applications at machine speed.
- SpotDraft is building a secure, AI-driven contract lifecycle management platform optimized for Snapdragon X Elite–powered PCs, where data privacy and on‑device intelligence are paramount for sensitive legal workflows.
- Tonetag –transforms everyday devices such as smartphones, smart TVs, wearables, and cars into intelligent, conversational, and payment-ready ecosystems powered by AI. This aligns directly with Qualcomm’s vision for smarter, more capable edge devices.
Looking ahead
India’s AI journey is just beginning. Breakthroughs in robotics, quantum computing, health, automotive, and personal wellness are accelerating — and India’s founders are more ambitious than ever.
With this new commitment to invest up to $150 million in Indian AI startups, Qualcomm Ventures is committed to supporting the next generation of innovators building at the intersection of AI.
We invite India’s entrepreneurs to join us in exploring the art of possible, powered by AI and enabled by Qualcomm technology.
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