Borqs International Holding Corp

Borqs International Holding Corp specializes in providing innovative smart-connected devices and cloud solutions, enhancing technology for enterprises and consumers alike. Founded in 2007 by Pat Chan, Borqs Technologies Inc. is headquartered in Santa Clara, US. The company focuses on smart-connected devices and cloud services, pivoting towards enterprise solutions over time.

It has raised a total of USD 16. 00 mn, with its most recent funding round led by TDR Capital in August 2017, marking a significant milestone in its investment journey. Borqs Technologies Inc. offers a diverse portfolio centered on smart-connected devices and cloud solutions that cater to both enterprise and consumer markets.

Their proprietary Android+ software platform enhances the standard Android operating system, enabling the development of smart devices such as smartphones, tablets, wearables, and infotainment systems for automobiles. Additionally, Borqs provides end-to-end cloud solutions, particularly for sectors like healthcare and smart home applications, addressing specific needs such as fitness tracking and smart appliance integration. The company services a wide range of clients, including original device manufacturers (ODMs), mobile operators, and enterprises across North America, Europe, and parts of Asia. In the most recent financial year, 2021, Borqs Technologies reported a revenue of USD 29.

56 mn, while experiencing an EBITDA loss of USD 25. 03 mn. The company's revenue streams are derived from various channels, including B2B partnerships and direct-to-consumer sales, through both outright product sales and subscription service plans. Their mobile virtual network operator (MVNO) services enhance connectivity solutions for IoT devices, contributing to a comprehensive ecosystem for their clientele.

Borqs Technologies Inc. plans to leverage its recent funding of USD 16. 00 mn to support the development and launch of new products, including enhanced smart home solutions and additional features for their Android+ platform. The company aims to expand its market presence, particularly targeting growth in regions such as Europe and Asia by 2023.

This strategic expansion will focus on increasing partnerships and enhancing their service offerings in these competitive markets. The funds raised will specifically support product development and market entry initiatives, fueling the company's growth trajectory.