Qualcomm Ventures picks 0.15% stake in Jio Platforms for Rs 730 crore

Reliance Industries (RIL) on Sunday announced the sale of 0.15 per cent stake in Jio Platforms to Qualcomm Ventures for Rs 730 crore. This is the 13th investment in Jio Platforms since April 22. So far the company has raised Rs 1.18 trillion selling 25.24 per cent stake.

Qualcomm Ventures is a global fund of Qualcomm that invests in pioneering companies across the wireless ecosystem in areas like 5G, AI, IoT, automotive, networking and enterprise.

“Qualcomm has been a valued partner for several years, and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India.