- Top 10 sensors market 2017-2022
- Sony batteries for Samsung’s Galaxy 8 smartphone
- Temperature controller has self-contained control system
- Electrical fingerprint technology helps with energy savings
Samsung NEXT (formerly Samsung Global Innovation Center) has announced the creation of the Samsung NEXT Fund. This is a $150 million venture capital investment fund set to increase Samsung’s global support of early-stage startups pursuing advanced software and services innovation.
The Fund is designed to empower tech entrepreneurs with funding, resources and deep-domain expertise.
“We see software and services becoming a core part of Samsung Electronics’ DNA, and startups are key to achieving this vision,” said David Eun, President and Founder of Samsung NEXT. “We see software and services becoming a core part of Samsung Electronics’ DNA, and startups are key to achieving this vision. Samsung continues to embrace entrepreneurship at all levels and this Fund shows our unwavering commitment to support great startups worldwide.”
The Fund targets pre-Seed to Series B investments with a focus on virtual reality, artificial intelligence, IoT and other new frontier technologies. Companies that have received capital from the Fund so far include: Converge Industries, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK and Virtru.
In September, Samsung NEXT launched its newest office in Tel Aviv. The new location is the fifth for the organisation, which currently has teams in Mountain View, New York, San Francisco and Korea. Samsung NEXT will open additional locations in 2017.
To coincide with Samsung NEXT’s international expansion and launch of the Fund, the company has initiated its first major rebrand effort which includes the renaming of its organisation to “Samsung NEXT” and the release of a new logo and website. With the rebrand, the company’s goal is to simplify its identity and clarify its message and mission.