LG Electronics, a prominent South Korean conglomerate, is making significant strides in the artificial intelligence (AI) and deep tech startup scene. The company has pledged a hefty sum of $10 million to become a key limited partner in the newly established $130 million Alpha Intelligence Fund (AIF), managed by SBVA, an early-stage venture capital arm of Japan’s SoftBank Group.
By investing in startups focused on AI and deep tech, LG aims to expedite its transformation into a Smart Life Solutions company, securing essential technologies for its key growth areas, including platform-based service businesses and B2B ventures. The ultimate goal is to expand its business footprint beyond the confines of homes into diverse sectors such as business spaces and mobility.
In recent strategic moves, LG acquired an 80% stake in Athom, a smart home platform company based in the Netherlands, with plans to acquire the remaining 20% over the next three years. Additionally, the company invested $60 million in Bear Robotics, an AI-based autonomous service robot startup located in Silicon Valley, through a stock acquisition agreement.
LG’s investment spree illustrates its commitment to fostering innovation and adapting to the evolving technological landscape. With a keen eye on emerging technologies, LG Electronics is positioning itself as a key player in the AI and deep tech ecosystem, paving the way for future growth and development.
