LG Electronics has announced that it will make several investments in startups specializing in artificial intelligence and deep tech. LG has invested $10 million as a main limited partner in the newly founded $130 million Alpha Intelligence Fund (AIF) by SBVA.
SBVA will build a portfolio for AIF by selecting startups with high growth potential in AI, deep tech and robotics. The company aims to leverage its global networks and resources to support the growth and significant successes of these startups.
By participating in the SBVA Fund, LG aims to share information on rapidly changing innovative technology trends and incorporate these global market changes into its management strategies. aims to expand cooperation with innovative startups and continue efforts to secure future technologies.
LG intends to accelerate its transformation into a “Smart Life Solutions” company by securing innovative technologies for its key growth engines, including platform-based service businesses, B2B businesses and other new ventures. The company plans to continue its efforts to secure future core technologies and expand its business areas beyond the home to commercial spaces, mobility and more.
Eugene Yoo, Vice President and Head, Open Innovation Task, LG
By participating in the AIF, we aim to secure AI competencies and strengthen our position within the AI value chain through active open innovation activities. We plan to discover capable startups and collaborate with them to explore future business opportunities.
JP Lee, CEO, SBVA
We will continue to make investments that accelerate technological innovation, leveraging our differentiated technical expertise, global network and investment experience. We plan to maximize the growth potential of these companies by supporting the creation of joint ventures with startups and large investors and promoting joint business projects.
