Borqs International Holding, Corp., a global provider of smart connected devices and cloud service solutions for the Internet of Things (“IoT”) industry, received an investment led by Qualcomm Ventures, the investment arm of Qualcomm Incorporated.
The amount of the deal was not disclosed.
This investment will fund additional engineering capabilities to advance the development of autonomous products.
Founded in 2007 by Pat Chan, Chairman and CEO, Borqs is an Internet of Things products and solutions provider, with major R&D centers in Bangalore and Beijing. The company, which has a proven track record in design, development and commercial shipments of various Android devices and is a Google GMS licensed partner, has a pipeline of products ranging from tablets, phones, smartwatches, smart appliances, POS terminals and digital signage to in-vehicle infotainment (IVI), for various international brands.
Customers include OEMs such as Vizio and Fossil, operators like AT&T and Sprint in the U.S. and Reliance Jio in India, and IoT solution providers to restaurants and the utility, public safety and hospitality categories.
Borqs – which merged with Pacific Special Acquisition Corp. (“Pacific”, NASDAQ: PAACU, PAAC, PAACR and PAACW) in December 2016 – is also backed by Intel Capital, Norwest Venture Partners, SK Telecom China Fund, Keytone Ventures and GSR Ventures.