Entrepreneurship Startups

Samsung investing $150 million in early stage startups

Samsung  announced the Samsung NEXT fund to invest $150 million in early-stage startups which have their prime inclination towards artificial intelligence, virtual reality, and Internet-connected devices at CES 2017.

Samsung plans to use the services of these startups to revolutionize its products and become a ‘game-changer’ in the coming years.

Samsung has already invested in 10 startups so far: Converge Industries, Dashbot, Entry Point VR, Filament, Intezer, LiquidSky, Otto Radio, 2Sens, SafeDK, and Virtru.

All these startups have extremely diverse skill set ranging from automated technology, VR studio to water monitoring sensors for appliances. No doubt that Samsung aims to extensively diversify its services for its customers.

“We see software and services becoming a core part of Samsung Electronics’ DNA, and startups are key to achieving this vision,” Samsung NEXT President David Eun said in a statement.

Samsung changed the name of its investment arm form the Samsung Global Innovation Centre to Samsung NEXT. It has recently opened its office at Tel Aviv in September. Samsung NEXT also has its offices in San Francisco, Korea, New York, and Mountain View.

Samsung is not an isolated player which has its eye on artificial technology and virtual reality. More recently, giant players like HTC and Microsoft have also made such similar investments.