Samsung Creates $300M Fund Dedicated To Smart Cars

Samsung has established a new investment fund that's dedicated to smart vehicle technologies. The Samsung Automotive Innovation Fund will make money available for projects involving smart sensors, machine vision, artificial intelligence, and safety technologies, among other things.

It'll have $300 million available for startups working in the field. The first major investment is going to TTTech, which is working on networking and safety controls. It'll receive $89 million.

Harman, which was acquired by Samsung and is a notable player in the vehicle speaker market, will also be working with other parts of Samsung on smart vehicle technologies.