US chipmaker Qualcomm has announced a $150 million venture capital fund dedicated to backing artificial intelligence startups in India, marking one of the largest single-company startup funding commitments unveiled around the ongoing India AI Impact Summit.
The fund, described as a strategic AI ventures fund for India, will be operated through Qualcomm Ventures, the company’s global investment arm, and will focus on early and growth-stage AI startups building across devices, platforms and industry applications.
Cristiano Amon, CEO of Qualcomm, announced the plan during his India visit, saying AI is entering a new deployment phase centered on embedded and on-device intelligence.
“AI is entering a new phase, where intelligence is built directly into devices and systems that people depend on everyday — from smartphones and PCs to cars, machines and robots. This delivers richer and more meaningful experiences, and the shift to AI will reshape industries. India’s startup ecosystem has a critical role to play in it, as AI drives innovation across sectors,” Amon said in a briefing statement.
The announcement adds momentum to a series of AI-focused capital commitments made this week. The India Deep-Tech Alliance recently expanded its AI startup fund to more than $1 billion and committed to invest $1 billion in AI ventures over the next three years. Peak XV Partners has also announced fresh investments in early-stage AI startups.
Qualcomm has been an active investor in India for nearly two decades. The company said it has backed more than 40 Indian companies since entering the market in 2007, including MapMyIndia, IdeaForge and Shadowfax. It is also an investor in Jio Platforms, having invested $98 million in 2021 for a minority stake.
Industry investors say India’s scale and digital public infrastructure create a strong base for AI-led innovation. Qualcomm did not disclose timelines for deploying capital from the new India-focused AI fund or whether any investments have already been finalized. The announcement comes as global chipmakers and platform providers step up their India engagement, with several firms unveiling AI infrastructure and partnership initiatives alongside the summit.
