Thursday, May 11, 2017

Qualcomm Ventures Gets Quick Exit At Owlchemy Labs

Qualcomm Ventures, the venture arm of San Diego-based Qualcomm, has scored a quick exit out of its venture portfolio. Owlchemy Labs, developer of such virtual reality games as Rick and Morty: Virtual Rick-ality, has been acquired by Google, the two announced on Wednesday. Financial details of the buy were not announced, but Owlchemy Labs had only raised $5M, in a funding in August of 2016. Qualcomm Ventures was a prominent backer of Owlchemy, along with HTC, The VR Fund, Colopl VR Fund, Capital Factory, and angels.

---