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Samsung announces new fund to invest in early stage AI startups

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Samsung seems to be focusing more on Artificial Intelligence after the company announces a new fund targeted to AI technology and startups in this category.

The Korean giant has setup Samsung Next Q Fund which aims at seed and Series A deals for startups working in AI, especially the ones solving AI problems or the ones solving computer science problems using AI.

Particularly, the announced fund by Samsung has mentioned the areas including simulation, problem learning programs, scene understanding and human-computer interaction.

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The newly announced fund will not have its own dedicated funding source but rather the investments would be made from Samsung’s $150 million U.S. Next Fund, this fund was announced last year targeting early-stage startups in emerging technologies.

The Q fund has backed a number of companies so far, one of them is Covariant AI, a startup that teaches skills to robots.

Since a decade now, we have seen the software eat the world, now its AI’s turn to eat the software, said Samsung Next Ventures, Vincent Tang. “We are launching  Q Fund for this purpose, we will support the next generation AI startups who will think out of the box and let us look beyond what we know today, he added.

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In an article published in Forbes, it was also mentioned that the previous decade belonged to software development and the next decade is for AI development and it is our real future.