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Qualcomm invests in tech company for 5G advancement

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.