Qualcomm, Big Name Partners Form an XR Investment Alliance For Chinese Market
Qualcomm is interested in promoting the Chinese XR industry and has set up an investment alliance of 23 partners for this very purpose.
Qualcomm announced the establishment of the “XR Industry Investment Alliance” yesterday at the Qualcomm XR Ecological Partner Conference 2021 in Qingdao. The alliance aims to promote the innovation of Chinese XR industry and build a strong XR ecosystem according to a Qualcomm blog post. The risk capital in the investment appliance is intended to support promising XR startups in commercializing their products.
In the blog post, Qualcomm notes that XR has made some great strides in the recent years and that the company expects the technology to develop at a rapid pace in the future. Qualcomm notes that drawing on wireless technology, XR has the potential to become one of the most popular breakthrough computing platforms in the world.
A Big Investment Alliance
The Qualcomm investment alliance has already attracted 2 partners. Other major tech players have also been invited to join the alliance.
The list of partners includes the investment arms of some of the Asian tech giants such as Samsung, Tencent, Xiaomi, and Lenovo. Also joining the alliance are some well-known Silicon Valley investors like Sequoia Capital. The alliance did not reveal the size of its fund.
Here is the list of the alliance partners:
- Hillhouse Capital
- Volcanic Rock Capital
- Fortune Financial Intelligence
- Xiaomi Industrial Investment
- Lenovo Ventures
- Jinshi Investment
- OPPO Investment
- Longcheer Investment
- Samsung Ventures
- Sequoia Capital
- Qingliu Capital
- Linear Capital
- Tencent Investment
- SDIC Ventures
- Joy Capital
- Qiming Ventures
- Yuanhe Origin
- Vivo Investment Management
- Blue Run Ventures
- Shunwei Capital
- Inno Angel Fund
- Goertek’s Strategy and Investment Department
- Zhongke Chuangda Industrial Capital
Qualcomm is Betting Big on XR
Qualcomm is showing a keen interest in the growth of the Chinese XR market. The US chipmaker would, no doubt, benefit from an upswing in the XR industry in the Far East which could see it further expand its market dominance.
Qualcomm’s Snapdragon XR2 chip is now used in pretty much every standalone VR headset including the Oculus Quest 2 and the B2B headset HTC Vive Focus 3. The chip is also found in the Pico Neo 3 Pro and LynxR-1 headsets. Qualcomm’s chips also dominate the Augmented Reality sector. Facebook’s new Ray-Ban Stories smartglasses also leverage a snapdragon processor. They are also used in Snap’s Spectacles as well as in Niantic’s upcoming Augmented Reality glasses.
Qualcomm already dominates the chip market for standalone AR headsets/glasses as well as for the Android smartphones and it looks like it is keen on maintaining that dominance into the next technological frontier: immersive devices.