LG Group Steps up For Investment in Global Start-ups

Most recently, the investment arm invested in $2 million in AmazeVR, a virtual reality platform start-up in Silicon Valley

LG
LG logo. Wikimedia Commons

South Korean conglomerate LG Group has said it has been looking for investment opportunities in various fields to keep pace with fast-changing technology trends and find new growth drivers.

LG Technology Ventures, LG’s venture capital investment arm, has invested over $19 million in start-ups in emerging technology fields, including IT, automotive, manufacturing, bio, energy and advanced materials.

The amount is about 4.5 per cent of the $425 million fund assets raised by five LG affiliates in electronics, display, chemical, telecom and IT service provision for its establishment in 2018, the company said.

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Among the companies are mobility software provider Ridecell and bio-tech company Lygos, as well as cooking app SideChef and advanced material company Optodot, Yonhap news agency reported on Thursday.

Most recently, the investment arm invested in $2 million in AmazeVR, a virtual reality platform start-up in Silicon Valley.

“LG Technology Ventures is monitoring the technology development of global start-ups, while searching for investment opportunities in various fields, including artificial intelligence, virtual and augmented reality, bio, materials and displays,” LG said in a release. (IANS)

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