Samsung Venture Investment made an investment in SoldFire. (image: Kobizmedia/Korea Bizwire)
SEOUL, Oct. 11 (Korea Bizwire) — Samsung Venture Investment reportedly invested in SolidFire, an All-SSD storage service provider, following Pure Storage, also a storage platform provider, in 2011 to develop the Internet of Things technology within Samsung Group. A storage platform is necessary to deal with big data for IoT.
According to Chosun Biz on October 9, Samsung Venture Investment made an investment in SoldFire. It seems that an investment arm of Samsung Group made the investment in B-D series financing but how much it invested has not been disclosed yet.
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The IT startup ranked No. 1 in an IT Performance Assessment conducted by American IT research firm Gartner in September. In addition, sales volume of the company increased 700 percent last year compared with 2012 before its initial public offering.
With its existing hardware technology, Samsung Group has devised new strategies to find new growth engines. The Korea’s conglomerate suffering from the lowest third-quarter profit since 2011 has prepared a wearable technology and a smart home based on the Internet of Things. The investment can be seen as part of its next-step strategy.
By Veronica Huh (veronicah@koreabizwire.com)
