Samsung NEXT (formerly Samsung Global Innovation Centre) is increasing its investments in artificial intelligence, through the launch of Samsung NEXT Q Fund, a dedicated early-stage venture fund for AI startups.
In the announcement, Samsung NEXT said, the Q Fund will provide seed and Series A financing to startups using AI to solve computer science problems.
“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 principal, Vincent Tang.
Q Fund, which does not have an allocated fund size, will be investing from Samsung’s $150 million NEXT fund, launched last year. It has already made investments in Covariant.AI, a machine learning startup and Vicarious, an AI robotics startup.
These two investments add on to the existing eight AI investments made by Samsung NEXT in the past few four years.
Problem spaces Q Fund will examine could learning in simulation, scene understanding, intuitive physics, program learning programs, robot control, human computer interaction and meta learning.
Samsung NEXT Ventures director Ajay Singh said: “There are multiple approaches to building fundamental AI technology. And we want to invest in the people and teams who will try new approaches to lay the groundwork for what AI will be. For this reason, Q Fund will prioritize technical diligence over revenue models.”