LG Electronics is advancing its commitment to artificial intelligence (AI) and deep tech by investing $10 million in startups within these sectors. This investment establishes LG as a key limited partner in the newly created $130 million Alpha Intelligence Fund (AIF) by SBVA. The fund is designed to curate a portfolio of startups with significant growth potential in AI, deep tech, and robotics.
Through this investment, LG seeks to enhance collaboration with innovative startups and secure future technologies. The company aims to strengthen its global networking efforts, discover new strategic investment opportunities, and bolster its technological capabilities for upcoming business ventures.
LG’s strategy is to accelerate its transformation into a company focused on “Smart Life Solutions” by acquiring cutting-edge technologies for its key growth areas, including platform-based services, B2B businesses, and other emerging sectors. The company is committed to securing future core technologies and expanding its business reach beyond home appliances to include business spaces, mobility, and more.
Eugene Yoo, vice president and leader of the Open Innovation Task at LG, emphasized that participating in the AIF will help the company secure AI capabilities through active open innovation. LG plans to discover and collaborate with capable startups to explore future business opportunities.
SBVA CEO JP Lee highlighted that the company will continue to invest in technological innovation, leveraging its technical expertise, global network, and investment experience. The goal is to maximize the growth potential of these startups by supporting joint ventures with major investors and promoting collaborative business projects.