Qualcomm to invest Rs 730 cr in Jio Platform By Elets News Network - 13 July 2020


In a major development, US-based Qualcomm Inc is all set to invest Rs 730 crore in Jio Platforms for a 0.15 percent stake. It will be a thirteen big investment in Jio Infocomm in last 12 weeks.

Qualcomm is the third strategic investor after Facebook Inc and US semiconductor company Intel in Jio Platforms.

Reliance has sold 25.24 percent in Jio and raised Rs 118,318.45 crore in total from some of the world’s leading tech investors.

Facebook had bought a 9.99 percent stake for Rs 43,574 crore on April 22. Reliance has since sold stakes in Jio to global investors such as General Atlantic, KKR, Saudi sovereign wealth fund, Abu Dhabi state fund, Saudi Arabia’s PIF and Intel.

Also Read: Qualcomm and Flipkart to bring audio devices

Qualcomm is a San Diego, California, headquartered wireless technology company that specialises in 3G, 4G and 5G wireless technologies. Qualcomm’s technologies and products are widely used in mobile devices and other wireless products.

This is the largest continuous funds raised by a company anywhere in the world. For some comparison, India’s start-up ecosystem raised Rs 1.10 lakh crore last year, in what was its best year.

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