Samsung unveils $300 mln fund to focus on automotive tech


Samsung announced it has formed a $300 million Samsung Automotive Innovation Fund to focus on the automotive sector. The fund launch follows its $8 billion acquisition of audio and auto parts supplier Harman earlier this year. The Samsung fund will invest in such connected car segments as sensors, machine vision, artificial intelligence, high-performance computing, cloud services, mobile connectivity, automotive-grade safety and security. The first investment is TTTech, a Vienna, Austrian-based provider of networked safety controls for the automotive industry.

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