Qualcomm Launches $100M Fund for AI, Invests in First Startup

Qualcomm set up a $100 million fund that will invest in startups working on artificial intelligence (AI). The Qualcomm Ventures AI Fund will invest in companies building on-device AI that will be used in autonomous cars, robotics, and machine learning platforms.Qualcomm Investment Director Albert Wang will lead the new venture fund.The fund invested in its first venture — Tel Aviv-based AnyVision, an AI development startup working on face, object, and human recognition. Qualcomm contributed an unknown amount to its $28 million Series A funding round, which was led by Bosch in July.AnyVision’s technology is built to function on a sensor and operate in real-time. It relies on data acquisition and proprietary algorithms to index and analyze everything that is “seen” by the sensor. Prior to launching the fund, Qualcomm has previously invested in AI startups out of its investment arm. These investments include to SenseTime, a Beijing, China-based facial recognition company, and Cruise, a self-driving car startup which has since been acquired by GM.