Samsung NEXT has announced that it will be creating a capital investment fund of $150 million to support all tech startups, gearing up for bringing change in the advanced technology and software.
Samsung NEXT is the global tech giant’s new rendition of ‘Samsung Global Innovation Center’, rebranded with a new logo and website.
NEXT will help funding the ideas of worthy tech entrepreneurs. The fund targets pre-Seed to Series B investments with special focus on virtual reality, artificial intelligence, IoT and other new technologies.
David Eun, President and Founder of Samsung NEXT, said:
“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.”
Brendon Kim, Vice President and Managing Director of Samsung NEXT Ventures stated:
“Our investments bring the power of the Samsung platform to startups to accelerate their growth and ultimately their success. The Samsung NEXT Fund expands our global reach and capabilities, while increasing Samsung’s access to more great ideas, products and talent.”
Companies that have already received funding in the NEXT’s initial phases include; LiquidSky, Dashbot, Entry Point VR, Virtru, Filament, Otto Radio, SafeDK, Intezer, 2Sens, and Converge Industries.