Samsung Ventures Invests $4.6M In Israeli Audio Search Startup
April 3, 2018 | Samsung Venture Investment Corporation, the venture capital firm specializing in seed investments and early-stage startups and an affiliate of electronics manufacturer Samsung Electronics, announced it had invested $4.6 million in Israeli AI audio search company Audioblast, Forbes reported last week. The South Korean giant said it made the investment through their VC firm last year. It will integrate Audioblast’s tech into many Samsung devices. Industry insiders told India’s Economic Times that “the decision apparently reflects Samsung Electronics’ bid to bolster its capabilities in the AI segment” while Forbes says it’s a “‘sound’ move from Samsung, who is seeing Amazon’s Echo devices, with Alexa inside, dominating the smart speaker market” and that it “could also help Samsung compete against the Google voice assistant.” Founded in 2015, Audioburst provides customized audio content to users through analyzing their preferences and listening patterns.