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Samsung establishes an innovation fund while subsidiary Harman forms strategic business unit dedicated to automotive

Having secured licenses for on-road testing of autonomous driving software and hardware under development in Korea and California, Samsung is making efforts to cement its place in the automotive space. The company has established a $300-million fund–named as Samsung Automotive Innovation Fund–focussed on connected car and autonomous technologies, smart sensors, machine vision, artificial intelligence, high-performance computing, connectivity solutions, automotive-grade safety solutions, security, and privacy.

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The first strategic investment by the fund will be in TTTech, a company which works in the field of functional safety, deterministic networking, real-time systems, and complex software integration for ADAS and an automated driving platform.

Earlier, the company has invested in automotive startups, including AImotive and Renovo for automated driving; Quanergy, TetraVue, and Oculii for sensors; Autotalks and Valens for connectivity; and Graphcore for high-performance computing.

In addition to the fund, Samsung’s subsidiary Harman has established a new Autonomous/ADAS Strategic Business Unit (SBU).  The SBU will report to Harman’s Connected Car division and work with the Samsung Strategy and Innovation Center (SSIC) Smart Machines team to develop key technologies for safer, smarter, connected vehicles.  The SSIC Smart Machines team is an advanced automotive engineering group dedicated to enabling next-generation mobility solutions.

Samsung aims to work with automakers and mobility enablers to develop the next generation of automotive innovation. It has cleared that it will not enter the car-manufacturing business diverting its focus.

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