The latest beneficiary of Samsung’s investment scheme is Mobidoo, a small startup company with fewer than ten employees that specializes in payment solutions and mobile verification technology such as digital stamps. (Image: Samsung Electronics)
SEOUL, Jul. 27 (Korea Bizwire) — South Korean conglomerate Samsung’s startup supporting venture ‘Samsung Next’ has for the first time invested in a South Korean startup since its establishment five years ago.
The latest beneficiary of Samsung’s investment scheme is Mobidoo, a small startup company with fewer than ten employees that specializes in payment solutions and mobile verification technology such as digital stamps.
Prior to Samsung Next, Mobidoo’s potential was recognized by the likes of Lotte Members and Capstone Partners, which helped raised 1.5 billion won for the South Korean startup.
Though the value of Samsung Next’s investment in Mobidoo has not been disclosed, industry sources believe it to be roughly a few hundred million won.
Samsung Next has in the past focused primarily on supporting IT companies in North America and Europe, such as artificial intelligence development company VIV Labs.
“Though the scale of the investment is not necessarily big, it’s worth noting that Samsung Next has for the first time invested in a South Korean startup. It could help vitalize the country’s environment for startups,” an industry official said.
Samsung Next first made public at CES 2017 its venture capital fund of over 150 million U.S. dollars, which was set up to discover and support startup companies with innovative new ideas.
M.H.Lee (mhlee@koreabizwire.com)
