Attune will use the latest investment to fuel the company’s growth plans in India
Attune Technologies has secured $10 million in Series B funding from Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, and Norwest Venture Partners.
Reportedly, Attune will use the latest investment to fuel the company’s rapid growth in India. It will also utilise the funds to accelerate its expansion into international markets like Africa, West Asia and South-East Asia.
“Qualcomm is pleased to make the first investment from its $150 million Strategic Venture Fund in India, in Attune Technologies,” said Karthee Madasamy, VP, Qualcomm Ventures India.
Qualcomm recently announced its intention to invest up to $150 million in Indian start-up companies across all stages as part of its commitment to India. It currently has more than 20 Indian companies as part of its global portfolio, across the mobile ecosystem that includes hardware, software platforms, e-commerce, healthcare, location based services and retail technology.
“We are excited to partner with Attune on their journey and their success. We believe that the technology they provide has the potential to be a game-changer in addressing the issues related to healthcare globally,” commented Mohan Kumar, Executive Director, Norwest Venture Partners, India.
With the new funds, Attune aims to offer its software solution to 25,000 hospitals and labs across the globe in the next three years.
Source: PTI