Qualcomm Ventures acquires 0.15% stake in Jio Platforms

Qualcomm Ventures has acquired 0.15% stakes in Jio Platforms. The Reliance Industries (RIL) announced the sale of 0.15% stake in Jio Platforms to Qualcomm Ventures. The transaction costed Rs 730 crores to the Qualcomm Ventures.

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Jio Platforms Limited is a subsidiary of Reliance Industries Limited and runs digital applications and holds controlling investments in technology related units. It exists under the laws of the Republic of India and aims to provide high-quality and affordable digital services across India.

Qualcomm Ventures is a global fund of Qualcomm that invests in pioneering companies across the wireless ecosystem in various areas such as 5G, Artificial intelligence (AI), Internet of things (IoT), automotive, networking as well as enterprise.

Important takeaways for all competitive exams:

  • Chief Executive Officer (CEO) of Qualcomm: Steve Mollenkopf.

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