More

    Qualcomm Ventures to invest ₹ 730 Crore in Jio platforms

    Must Read

    At least 7 killed, dozens injured in blast at religious school in Pakistan: Officials

    At least seven people, including children, were killed and over 70 injured in a blast near an...

    CBI probe into Disha Salian’s death: SC asks petitioner to approach Bombay HC

    The Supreme Court on Monday asked a petitioner seeking a court-monitored CBI inquiry into the death of...

    Third India-US 2 plus 2 Ministerial Dialogue underway in New Delhi

    The Third India-US two plus two Ministerial Dialogue is underway at Hyderabad House in New Delhi. From...
    Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), announced about Qualcomm Ventures, the investment arm of Qualcomm Incorporated, an industry leader in wireless technologies, has committed to invest upto ₹ 730 crore in Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. Qualcomm Ventures’ investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis. The investment will deepen the ties between Qualcomm and Jio Platforms, to support Jio Platforms on its journey to rollout advanced 5G infrastructure and services for Indian customers.

    Jio Platforms, a majority-owned subsidiary of Reliance Industries has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers.

    Qualcomm is the world’s leading wireless technology innovator and the driving force behind the development, launch and expansion of 5G. With more than $62 billion in cumulative research and development spend, 35 years of innovation and over 140,000 patents and patent applications, Qualcomm is committed to fueling innovation and fostering Indian technology advancement. Qualcomm Ventures is a global fund that invests in pioneering companies across the wireless ecosystem in areas like 5G, AI, IoT, automotive, networking and enterprise. In India, Qualcomm Ventures has invested in companies that address key domestic issues from Dairy, Transportation to Defense, and build world class products for India and the world market.

    Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “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 Incorporated, said, “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 revolutionize India’s digital economy.”

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Latest News

    CBI probe into Disha Salian’s death: SC asks petitioner to approach Bombay HC

    The Supreme Court on Monday asked a petitioner seeking a court-monitored CBI inquiry into the death of...

    CBI probe into Disha Salian’s death: SC asks petitioner to approach Bombay HC

    The Supreme Court on Monday asked a petitioner seeking a court-monitored CBI inquiry into the death of Bollywood actor Sushant Singh Rajput's...

    Third India-US 2 plus 2 Ministerial Dialogue underway in New Delhi

    The Third India-US two plus two Ministerial Dialogue is underway at Hyderabad House in New Delhi. From the Indian side, Defence Minister...

    27 October – Know your today’s horoscope

    Aries:Be cautious while drinking and eating. Carelessness could make you sick. Don't make investments in haste-Losses are certain if you don't look...

    Contesting candidates of Karjan seat instructed to submit accounts of election expenses

    Instructed to submit accounts in the office of the Returning Officer on 27th October Karjan Assembly Electoral Officer and...

    More Articles Like This

    - Advertisement -