Samsung announces $300-Million
Automotive Innovation Fund
Samsung has established the Samsung Automotive Innovation Fund, a new $300-million fund focused exclusively on the automotive market. The fund will operate on a two- to three-year time horizon, and will help us to build open, flexible solutions in the automotive space.
In addition to the fund, HARMAN, acquired by Samsung this year, has established a new Autonomous/ADAS Strategic Business Unit (SBU), which will work with the SSIC Smart Machines team, an advanced automotive engineering team.
FIRST FUND INVESTMENT
The Samsung Automotive Innovation fund has already made its first investment – TTTech, a leader in functional safety, deterministic networking, real-time systems, and complex software integration for ADAS and automated driving.
AUTOMOTIVE SAFETY FACT:
“According to the World Health Organization, road injuries are among the top 10 causes of death worldwide, with more than 1.3 million fatalities in 2015. Samsung’s goal in the automotive market is to tackle this challenge by bringing to market technologies from sensors to data-processing solutions that will reduce accidents and injuries and make cars safer for drivers and passengers, while creating more comfortable and convenient mobility experience.”