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Qualcomm to invest $97 million in India’s Reliance Jio Platforms

Qualcomm has become the latest high-profile investor in four-year-old Reliance Jio Platforms, which has raised more than $15.7 billion in the past 12 weeks from as many investors.
On Sunday evening, Qualcomm Ventures said it will invest $97 million in Reliance Jio Platforms to acquire a 0.15% equity stake in the top Indian telecom operator.
Steve Mollenkopf, chief executive of Qualcomm, said the firm believes that Reliance Jio Platforms, which has disrupted the Indian telecommunications market by offering cut-rate voice and data plans, “will deliver a new set of services and experiences to Indian consumers” in the future.
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