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LG EXPANDS INVESTMENT IN AI AND DEEP TECH STARTUPS

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

SEOUL, South Korea, Aug. 19, 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.

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SOURCE LG Electronics

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Desay SV Collaborates with Qualcomm to Deliver New Intelligent AI Cabin Platform Powered by Snapdragon Elite Automotive Platforms

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New Desay SV G10PH is designed to support superior computing, graphics, and advanced AI-enabled cabin products for automotive OEMs, ensuring cutting-edge performance and functionality.The G10PH is engineered for real-time decision-making, adaptive responses, and proactive assistance to create tailored and intuitive driving experiences.Collaboration is built on a strong and long-term working relationship, marked by the successful development of innovative cabin platforms for global automakers.

LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — Desay SV and Qualcomm Technologies, Inc. held a joint signing ceremony at CES today to commemorate the companies’ co-innovation to deliver Desay SV’s next-generation intelligent cabin platform, the G10PH. Desay SV and Qualcomm Technologies have a strong long-term relationship focused on developing innovative cabin solutions, which are now integrated into millions of vehicles across the globe. Building on this, the companies will collaborate on the G10PH intelligent cabin platform powered by Qualcomm Technologies’ Snapdragon® Cockpit Elite platform. 

The G10PH harnesses the advanced artificial intelligence (AI) capabilities, superior computing and high-definition graphics of the Snapdragon Cockpit Elite platform to push the boundaries of automotive technology. With the Snapdragon Cockpit Elite’s state-of-the-art Qualcomm Oryon™ CPU, Qualcomm® Hexagon™ NPU for accelerated AI performance and improved Qualcomm® Adreno™ GPU, this cutting-edge system provides automakers with the tools to deliver a smart, intuitive, and personalized experience for drivers and passengers*. Additionally, the G10PH enables real-time decision-making, adaptive responses, and proactive assistance, creating an exclusive intelligent cabin assistant that is finely tuned to users’ habits. Every vehicle utilizing the G10PH will feature seamless user interface and support personalized features designed to enhance comfort and convenience befitting a premium user-centric driving experience. 

“At the new inflection point of ‘Software-Defined Vehicle’ and ‘AI-Defined Vehicle,’ Desay SV, together with Qualcomm Technologies, launched the premium AI intelligent cabin platform G10PH, which marks another technological revolution in the process of intelligent cabin and is an important example of Desay SV leading the development of cabin intelligence upgrade,” said Jian Xu, CEO of Desay SV. “We hope that this platform will give a strong impetus to the intelligent transformation of global automotive manufacturers, reshape the new ecosystem of future mobility, and accelerate the realization of the era of intelligent mobility.”

“The automotive industry is on the brink of a new era of intelligent transformation, driven by software and AI. Qualcomm Technologies and Desay SV have built a robust foundation of collaboration, and with our combined expertise in intelligent cockpits and we are excited about the new products featuring Snapdragon Cockpit Elite,” said Nakul Duggal, group general manager, automotive, industrial, and cloud, Qualcomm Technologies, Inc. “These innovations will enable automakers to deliver more advanced AI features and experiences to consumers, setting a new standard in the industry.”

Intelligent cockpit is the carrier of various sensing and interaction technologies, and it reflects the state of development in intelligent vehicle technology. According to KPMG’s analysis, China’s intelligent cabin market will reach RMB212.7 billion in 2026, with a compound annual growth rate of about 17% from 2022 to 2026, and the penetration rate is expected to increase from 59% to 82%. According to the “Smart Cockpit Assembly Data List for January-September 2024” by Gasgoo Automotive Research Institute, Desay SV holds the leading position in the market with an assembly volume of 630,492 units, accounting for 15.5% of the market share.

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About Desay SV

Desay SV (002920.SZ) is a leading mobility technology company with R&D and service branches in Germany, Japan, Singapore, Spain, USA, etc. The company focuses on efficiently integrating smart cabin, smart drive, and smart service. Relying on 39 years of accumulation, Desay SV has excelled in R&D, design, quality management, and intelligent manufacturing. Desay SV’s continuous innovation and comprehensive capabilities earn the long-term trust of global customers, including Chery, Geely, SAIC, Toyota, Volkswagen, Volvo, etc., and have helped it rank 74th in the Automotive News 2024 top 100 global auto parts suppliers. For more information, please visit Desay SV online at www.desaysv.com or follow us on: https://www.linkedin.com/company/13690363

About Qualcomm

Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem collaborators, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. 

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated.

Qualcomm, Snapdragon, Qualcomm Oryon, Hexagon and Adreno are trademarks or registered trademarks of Qualcomm Incorporated.

*All performance targets are compared to previous generation, based on preliminary internal testing, and subject to change upon final validation. 

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SOURCE Desay SV

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VerifiedX Releases VFX SwitchBlade Wallet Featuring First-Mover Bitcoin Utility at BitMart

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TORONTO, Jan. 10, 2025 /PRNewswire/ — The VerifiedX (VFX) Network, VerifiedX.io, has launched its mainnet non-custodial wallet VFX SwitchBlade, which enables full native Bitcoin functionality. The VFX SwitchBlade also supports a ‘first-mover’ fully decentralized and self custodial Bitcoin Tokenization (Verified Bitcoin) with on-chain native features, enabling real day-to-day utility, while solving current frictions for all Bitcoiners globally today. 

 

Verified Bitcoin (vBTC) enables anyone the ability to save, spend, withdraw, borrow, lend, mint & transfer media / documents, and vault actual Bitcoin with on-chain recovery features eliminating the need for third-parties or hardware wallets, through a feature rich simple text smart contract. This incredibly unique Bitcoin token provides for enhanced privacy with near-instant transaction finality, all with near-zero fees. Verified Bitcoin tokens are transferable in any denomination completely peer-to-peer, so long as they have a native Bitcoin balance and always maintain a fully decentralized and non-custodial evergreen 1:1 peg. This means that 1 vBTC will always equal 1 BTC and token owners may withdraw their underlying Bitcoin anytime with a ‘one-click’ multisig action or off-ramp the token itself, in whole or in part, at any participatory liquidity provider.

This empowering development will inevitably help provide congestion relief for the Bitcoin network, dramatically reduce Bitcoin holders cost of ownership and transfers, enable media embedding, and increase self-custodial security exponentially, adding immediate utility to holders of the largest digital asset class. It is anticipated that Verified Bitcoin may also help facilitate additional native scarcity with Total Value Vaulted (TVV) over time on VerifiedX Vaults.

VerifiedX – VFX (VerifiedX.IO) is the first open-source decentralized network that is both a universal layer 1 and a Bitcoin specific sidechain for the purpose of tokenized self-custody, on-chain storage, and peer-to-peer commerce of both digital & physical assets.

For Further Inquiries:
Website: https://verifiedx.io/
Discord: https://discord.gg/7cd5ebDQCj
Twitter (X)): https://twitter.com/vfxblockchain
Github: https://github.com/verifiedxblockchain

View original content to download multimedia:https://www.prnewswire.com/news-releases/verifiedx-releases-vfx-switchblade-wallet-featuring-first-mover-bitcoin-utility-at-bitmart-302348083.html

SOURCE VerifiedX.io

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Ratehub Inc. launches a new personal loans marketplace powered by its LoanFinder tool

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Canadian financial technology company launches a personal loans marketplace, simplifying borrowing for Canadians and helping members manage debt better

TORONTO, Jan. 10, 2025 /CNW/ – Ratehub Inc., a leading Canadian financial technology company, has launched a new personal loans marketplace as part of its mission to empower Canadians with the tools and resources to make confident financial decisions.

This launch brings Ratehub closer to its vision of becoming Canada’s go-to source and one-stop shop for all personal finance products. With LoanFinder, Ratehub’s custom-built tool, members can easily explore and compare a range of loan options tailored to their unique needs. Members can quickly secure pre-approval for the best rates, saving both time and money—all within one easy-to-use platform.

“Our launch into personal loans is an important milestone towards achieving our vision of being the one-stop shop for all consumers’ financial needs – spend, save, borrow, invest, and protect,” said Naga Parvatharajan, CEO of Ratehub Inc. “LoanFinder, is a game-changer for Ratehub members. It uses our own data and credit bureau information to pre-approve you for the best loan offers, all without impacting your credit score. We’re thrilled to be working with Fig Financial and Spring Financial as our first partners to bring Canadians simpler borrowing options and help them manage debt better.”

Ratehub members will benefit from:

Comprehensive loan marketplace: Best pre-approved offers through LoanFinder matched to the lender, maximizing members’ approval odds without impacting their credit scoresSeamless digital experience: A fast, fully digital loan application process from the convenience of members’ homesFinancial education: Access to expert articles and resources to guide members on what to look for when selecting loansTransparency: Clear and unbiased information to help members make informed decisionsValue: Save money by refinancing credit card debt, reducing monthly payments, funding home improvement projects, or other needs

“In today’s challenging financial environment, it’s more important than ever to provide the tools and resources that help Canadians make confident decisions,” said Natasha Macmillan, Director of Everyday Banking at Ratehub.ca. “Our goal is to support every Ratehub member based on their financial needs and journey. Our launch of personal loans will allow members to navigate these products and empower them to make well-informed decisions.”

Currently offering comparisons for personal loans, Ratehub’s ultimate goal is to provide a complete range of loan types, with personalized recommendations that help members find the perfect match for their eligibility and financial situation. Ratehub is committed to helping Canadians find their best borrowing option based on their unique financial needs, and ultimately empowering them to manage debt better and take control of their financial future.

About Ratehub Inc.
Ratehub Inc. is the one-stop shop for all consumer finance needs – Save, Spend, Borrow, Invest and Protect. We connect Canadians to the best financial tools, advice, and products on the market through our financial product comparison site and mortgage brokerage, Ratehub.ca, mortgage lender, CanWise, insurance brokerage, RH Insurance, and personal finance website, MoneySense. Millions of Canadians visit Ratehub.ca and MoneySense every year to get personalized recommendations on the best mortgage rates, credit cards, savings accounts, GICs, and insurance products. To learn more, visit www.ratehub.ca or www.canwise.com or www.rhinsurance.ca or www.moneysense.ca.

SOURCE Ratehub Inc.

SOURCE Ratehub Inc.

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