UPDATE : 2019.4.23 TUE 09:10
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Samsung to create US$300 mln fund for connected car, autonomous technologies

Samsung Electronics Co., South Korea's tech giant, said Thursday that it will create a US$300 million fund to strengthen its autonomous driving and other auto-related startups and technologies.

The Samsung Automotive Innovation Fund will focus on connected car and autonomous technologies, including smart sensors, artificial intelligence, connectivity solutions, automotive-grade safety solutions, security and privacy, according to Samsung.

The fund's first strategic investment will be in TTTech, a leader in functional safety, deterministic networking, real-time systems and complex software integration for an advanced driver-assistance system (ADAS) and automated driving platforms, Samsung said.

In addition to the fund, Harman International Industries, acquired by Samsung earlier this year, has established a new autonomous and ADAS business unit, Samsung said.

The two will focus on engineering, high-performance computing, sensor technologies and artificial intelligence, as well as connectivity and cloud solutions that enable ADAS and automated driving, it added.

Samsung has secured licenses for on-road testing of autonomous driving software and hardware under development in South Korea and California.

Hwi Won  edt@koreapost.com

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