Qualcomm Inc., through its venture capital arm Qualcomm Ventures, led a 100 million yuan series B+ funding round in small cell technology company Baicells Technologies Co. Ltd.
Baicells will use the proceeds to further develop 5G technologies for Qualcomm.
Baicells is a privately held Chinese startup that develops fixed wireless access solutions and service platforms with a focus on modularized architecture, virtualized technology and fog computing, according to a news release.
Qualcomm launched its Ventures AI Fund in November 2018 to invest up to $100 million in startups focusing on artificial intelligence.
As of Jan. 3, US$1 was equivalent to 6.87 yuan.