Samsung launches new fund for early-stage AI investments – TechCrunch

Fundings and Exits

Samsung is diving deeper into synthetic intelligence after it introduced a brand new fund targeted on AI applied sciences and startups.

The Korean agency’s ‘Samsung NEXT Q Fund’ is focused at seed and Sequence A offers for startups which might be “fixing AI issues, in addition to these utilizing AI to unravel pc science issues.” Specifically, the announcement revealing the brand new fund talked about areas that embrace studying in simulation, scene understanding, downside studying packages and human pc interplay.

The fund itself doesn’t have a devoted kitty, it as a substitute invests from Samsung’s $150 million U.S. Subsequent Fund, which was introduced final 12 months and is targeted on early-stage corporations in rising tech verticals.

The Q fund has already lower checks, although. Thus far it has backed various corporations, certainly one of which is Covariant.AI — a startup that teaches expertise to robots.

“For the previous ten years, we’ve watched software program eat the world. Now, it’s AI’s flip to eat software program. We’re launching Q Fund to help the subsequent era of AI startups who look to scratch past the floor of what we all know at this time,” mentioned Samsung NEXT Ventures’ Vincent Tang in a press release.

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