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UPDATE: Samsung to Create Autonomous-Tech Unit, Launches Startup Fund
Samsung Electronics Co. is launch a new business unit and separate venture capital fund to strengthen its capabilities in self-driving vehicle technologies.
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Samsung Electronics Co. is launch a new business unit and separate venture capital fund to strengthen its capabilities in self-driving vehicle technologies.
The business unit will focus on developing a driver-assistance software platform through its recent acquisition of U.S. audio electronics supplier Harman International Industries Inc. The open architecture will compete with proprietary systems such as the one Intel and Mobileye are creating.
The new unit will be led by John Absmeier, currently vice president of smart machines for the Samsung Strategy and Innovation Center. He previously headed Delphi Automotive’s autonomous vehicle project in Silicon Valley.
Samung says the $300 million Automotive Innovation Fund will invest in developers of such products as sensors, machine vision and advanced safety features. The fund’s first target is TTTech Computertechnik AG, a Vienna-based company that integrates software for robotic driving systems. TTTech specializes in scalable and modular software architectures.
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