A $250 million fund raised by Samsung earlier this year will be used to support early tech startups in Europe. The fund is managed by Samsung Next, an investment arm founded in 2013. Next is focused on helping companies working on "frontier" technologies in the areas of AI, the internet of things, augmented reality, and virtual reality.
Samsung is a world leader in making powerful interfaces that connect anyone with anything, anywhere. At Samsung Next, we're investing and acquiring companies in areas like AR, VR and AI to build the products and interfaces that will further transform how we're connecting with the world.- Felix Petersen, Samsung Next
Felix Peterson, Next's managing director of Europe, revealed the expansion of its funding efforts during an event in Berlin this week.
Though monetary support is a major part of this effort, Samsung will also equip startups with resources, knowledge, and connections.
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