Qualcomm launches $100 mn Snapdragon Metaverse Fund for XR firms

The fund will invest in developers and companies building unique, immersive XR experiences, and associated core AR and related AI technologies

Qualcomm Incorporated today announced the launch of the Snapdragon Metaverse Fund. The fund will invest up to $100 million in developers and companies building unique, immersive XR experiences, as well as associated core augmented reality (AR) and related artificial intelligence (AI) technologies, said the company.

The fund plans to deploy capital through a combination of venture investments in leading XR companies by Qualcomm Ventures and a grant programme by Qualcomm Technologies, for developer ecosystem funding in XR experiences such as gaming, health and wellness, media, entertainment, education, and enterprise.

"We deliver the groundbreaking platform technology and experiences that will enable both the