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Announcing another investment that totals thirteen external investors so far, Reliance Industries Limited and Jio Platforms Limited has raised funds from Qualcomm Ventures, the investment arm of Qualcomm Incorporated.
Qualcomm is one of the pioneering companies in the technology space and is admired and respected for its innovation and breadth of technology expertise.
The investment is up to ₹ 730 crore for a 0.15 % stake and an enterprise value of ₹ 5.16 lakh crore in Jio Platforms. Qualcomm’s investment is at a similar valuation to the other recent investments in Jio – equity valuation of ₹ 4.91 Lakh crore and enterprise valuation of ₹ 5.16 Lakh crore.
The investment is expected to 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.
With this investment, Jio Platforms has raised ₹ 118,318.45 crore from leading technology investors including Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel Capital and Qualcomm Ventures. At ₹ 118,318.45 crore, it is the largest continuous funds raise by a company anywhere in the world. It is remarkable that this was done amidst a global lock-down, clearly signifying India’s digital potential and Jio’s business strategy.
As a global investor, Qualcomm is focused on building the connections that bring our mobile future-forward. It is helping to accelerate innovation in the mobile ecosystem by bridging entrepreneurs to the resources, relationships, and deep industry expertise they need to scale their businesses.
Reliance will now be able to learn from Qualcomm's Domain Expertise and unparalleled knowledge and understanding of mobile compute and connectivity. Also Qualcomm's Powerful Network - Connections with an entire ecosystem of industry leaders including OEMs, technology experts, and VC partners can play to Reliance's advantage.