Artificial Intelligence is one of the technologies that all the companies are tapping into for research and development. Samsung created a new fund focused exclusively on AI tech and startups. ‘Samsung NEXT Q Fund’ is aiming at seed and Series A deals for startups that are solving AI problems and those resolving computer science problems.
The announcement Samsung made revealed that the mentioned areas include learning in simulation, scene understanding, problem learning programs and human computer interaction. The fund will invest from the USD 150 million cash that Samsung’s U.S. Next Fund have, which was announced last year and is focused on start-ups in emerging tech.
The Q fund has already backed a number of companies, like Covariant.AI, a startup that teaches skills to robots.
“For the past ten years, we’ve watched software eat the world. Now, it’s AI’s turn to eat software. We’re launching Q Fund to support the next generation of AI startups who look to scratch beyond the surface of what we know today,” said Samsung NEXT Ventures’ Vincent Tang in a statement.
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