Chip giant Qualcomm launched the Qualcomm Ventures AI Fund last week, set to invest up to $100 million in artificial intelligence startups.
“The fund will focus on startups that share the vision of on-device AI becoming more powerful and widespread, with an emphasis on those developing new technology for autonomous cars, robotics, and machine learning platforms,” the company said in a statement. The announcement was made at Qualcomm Ventures’ 5G & AI Summit in San Francisco last week.
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As part of the fund, the company has made its first investment in Israeli startup AnyVision. Founded in 2014 by Eylon Etshtein, its CEO, and Prof. Neil Robertson, its CTO, Tel Aviv-based AnyVision developed a technology for object, facial and body recognition in mass crowd events. The company mitigates privacy concerns and data spread through the use of AI on digital cameras and other devices. Former Mossad chief Tamir Pardo sits on AnyVision’s advisory board.
This investment by Qualcomm “will further AnyVision’s efforts to expand into other industries and develop new AI applications that transform how the world connects, computes and communicate,” the company said.
“Qualcomm Ventures is proud to invest in the future of AnyVision and many other key players in the AI industry,” said Quinn Li, senior vice president, Ventures, Qualcomm Technologies, Inc. and global head of Qualcomm Ventures. “This investment builds on our long history of successful AI investments, including Cruise Automation, Brain Corp., Clarifai, Prospera, SenseTime and Retail Next. Through the AI Fund, we’ll continue to seek out startups, with a focus on autonomous cars, robotics, computer vision and IoT, who are developing new AI applications, advanced machine learning technologies and AI/ML platforms across different verticals.”
In July AnyVision raised $28 million in a Series A funding round led by German multinational Bosch.