LG Electronics has announced a substantial investment in startups specializing in artificial intelligence (AI) and deep technology. The company has committed $10 million as a significant limited partner in the newly established $130 million "Alpha Intelligence Fund (AIF)" managed by SBVA.
Aiming to expedite its evolution into a "Smart Life Solutions" enterprise, LG is focusing on innovative technologies for its core growth sectors, including platform-based service businesses, B2B enterprises, and other emerging ventures. The company remains dedicated to securing future essential technologies and expanding its reach beyond residential markets to commercial spaces, mobility, and more.
Earlier in July, LG acquired an 80% stake in Athom, a smart home platform company based in Enschede, Netherlands, with a contract to purchase the remaining 20% within the next three years.
In March, LG invested $60 million in Bear Robotics, an AI-driven autonomous service robot startup based in Redwood City, Silicon Valley, USA, through an agreement to acquire a stake in the company.
