LG EXPANDS INVESTMENT IN AI AND DEEP TECH STARTUPS

Company Joins SBVA's AI Fund and Continues Efforts to Nurture Future Businesses Through Open Innovation Activities

SEOUL, South Korea, Aug. 20, 2024 /PRNewswire/ -- LG Electronics (LG) is making significant investments in startups specializing in artificial intelligence (AI) and deep tech. LG has committed USD 10 million as a key limited partner in the newly established USD 130 million "Alpha Intelligence Fund (AIF)" by SBVA.

SBVA will curate a portfolio for AIF by selecting startups with high growth potential in AI, deep tech and robotics. The firm aims to leverage its global networks and resources to support the growth and meaningful achievements of these startups.

For over 20 years, SBVA has been investing in global startups, enhancing its expertise in ICT technology and strengthening its international network. By participating in the SBVA fund, LG plans to engage in the sharing of information on rapidly changing innovative technology trends and reflect these global market changes in its management strategies.

Through this investment, LG aims to expand cooperation with innovative startups and continue efforts to secure future technologies, ultimately seeking qualitative growth. The company plans to strengthen its networking with leading global companies and startups, discover additional opportunities for strategic investments and secure technological capabilities for future businesses.

LG intends to accelerate its transformation into a "Smart Life Solutions" company by securing innovative technologies for its key growth engines, including platform-based service businesses, B2B businesses and other new ventures. The company plans to continue efforts to secure future core technologies and expand its business areas beyond the home to business spaces, mobility and more.

Previously, in July, LG acquired an 80 percent stake in Athom, a smart home platform company headquartered in Enschede, Netherlands, and signed a contract to acquire the remaining 20 percent within the next three years. In March, LG invested USD 60 million in Bear Robotics – an AI-based autonomous service robot startup headquartered in Redwood City, Silicon Valley, USA – through a new stock acquisition agreement to acquire a stake in Bear Robotics.

In addition, through LG NOVA – the company's Silicon Valley-based innovation center – LG has been conducting annual contests since 2021 to discover and nurture startups with innovative ideas and support their commercialization, thereby seeking new business opportunities. LG NOVA is particularly focused on building sustainable growth and nurturing systems for future innovative industries such as digital healthcare, clean tech and AI.

"By participating in the AIF, we aim to secure AI capabilities through active open innovation activities and strengthen our position within the AI value chain," said Eugene Yoo, vice president and leader of the Open Innovation Task at LG. "We plan to discover and collaborate with capable startups to explore future business opportunities."

"We will continue to make investments that accelerate technological innovation, leveraging our differentiated technical expertise, global network and investment experience. We plan to maximize the growth potential of these companies by supporting the establishment of joint ventures with startups and major investors, and by promoting collaborative business projects," said SBVA CEO JP Lee.

Meanwhile, SBVA, established as SoftBank Ventures Asia under the SoftBank Group, was acquired last year by The Edgeof, an investment company led by Taizo Son, chairman of the global investment firm Mistletoe, and became independent. SBVA manages assets totaling approximately USD 2 billion AUM and has offices in San Francisco, Israel, Singapore and Seoul. It is investing in over 100 companies. SBVA plans to conduct a second closing within the year to increase the size of the AIF.

About LG Electronics, Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG's four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 84 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

LG EXPANDS INVESTMENT IN AI AND DEEP TECH STARTUPS

Unveiled at the iconic Jumeria Zabeel Saray during an exclusive red-carpet event in parallel with TOKEN2049 in Dubai, featuring film stars Vincent Cassel, Chazz Palminteri and Bonnie Chen

DUBAI, UAE, May 1, 2025 /PRNewswire/ -- OKX, a leading global blockchain technology company, in partnership with Tribeca Festival, premiered on April 30 its film Mild Mild West, which takes on the next phase of growth of the crypto industry.

Commemorating a major shift in mindset that challenges the oversimplified notion that crypto is the 'wild west', the film highlights the transition toward a new frontier, governed by good regulation, safety and security. Mild Mild West was officially shown on the same day that OKX announced its new product, OKX Pay, a first-of-its-kind crypto payment app.

Starring Vincent Cassel, Chazz Palminteri and Bonnie Chen, directed by Marcelo Burgos and produced by Chromista, the film explores how true freedom isn't built around the absence of structure, but rather about having the necessary tools and expertise to put in place the right framework and processes to allow that freedom to take place the right way.

"The thought process behind Mild Mild West is simple - why advertise when you can instead create deeper stories and moments? This mirrors our approach within OKX, where it is incumbent upon us to continue to lead the innovation and growth of the broader industry," said Haider Rafique, Chief Marketing Officer, OKX. "By using the western genre, we're able to draw parallels to the transition from an unsustainable climate of limited oversight, to one governed by good regulation and compliance. The film portrays the characters discovering what true freedom is within the digital age, and that it is only realized through understanding and using the right tools, as well as making the right conscious choices about our role in technology."

The red-carpet premier, which was attended by the region's business, industry and technology leaders, took place at the iconic Jumeriah Zabeel Saray.

About OKX

Trusted by more than 60 million customers around the globe, OKX is a technology company building a decentralized future that makes the world more tradable, transparent and connected. We're known for being one of the fastest and most reliable crypto apps in the world, and have processed trillions of dollars in transactions.

We have key regional offices, including headquarters in San José, California, for the Americas and in Dubai for the Middle East. We also have offices in New York, Hong Kong, Singapore, the Republic of Türkiye, Australia and Europe.

Over the past several years, we've built one of the world's most comprehensive regulatory compliant, licensed crypto companies. We hold licenses in the United States, the UAE, EEA, Singapore and Australia, as well as in other markets.

We're steadfastly committed to transparency and security and publish Proof of Reserves reports on a monthly basis. To learn more about OKX, download our app or visit: okx.com.

Disclaimer

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

OKX Premiers 'Mild Mild West' Film on Crypto Evolution in Partnership with Tribeca Festival

OKX Premiers 'Mild Mild West' Film on Crypto Evolution in Partnership with Tribeca Festival

OKX Premiers 'Mild Mild West' Film on Crypto Evolution in Partnership with Tribeca Festival

OKX Premiers 'Mild Mild West' Film on Crypto Evolution in Partnership with Tribeca Festival

OKX Premiers 'Mild Mild West' Film on Crypto Evolution in Partnership with Tribeca Festival