Monday, July 13, 2020

Qualcomm Invests $97M In India's Jio

San Diego-based Qualcomm has just taken a $97M stake in Indian telecom provider Jio, via its Qualcomm Ventures venture arm, Qualcomm said on Sunday. Qualcomm said its investment gives it a 0.15% equity stake in Jio Platforms. Qualcomm said the investment will go towards the buildout of 5G infrastructure and services for Jio's customers in India. Jio has recently raised a total of $15.7 billion in funding. Qualcomm is a provider of technology used in the 5G wireless industry.