Samsung SDS, a global IT services company and affiliate of the Samsung Group has announced that it has invested in Blocko, a Korean blockchain startup through a new technology investment fund.
According to the official release, Samsung SDS will increase investments in global startups in order to boost business competitiveness and secure the future growth. Apart from Blocko, the company has also invested in Darktrace, a U.K. based cyber security company.
“Through these investments, Samsung SDS will be able to retain leading-edge technology in cyber security and blockchain. The company plans to collaborate closely with these startups to drive business growth,” the company said in a statement.
Samsung SDS, being a global ICT (Information and Communication Technology) service company, considers securing a differentiated core technology as very important. As a result, the company is investing in startups across the globe through a new technology investment fund.
The new technology investment fund is co-managed by Samsung Venture Investment Corporations (SVIC) in which Samsung SDS holds 99 percent of the shares.
Working with emerging blockchain technology, the company added in its statement, “Samsung SDS will increase competitiveness of its cybersecurity business and services by promoting sales of the differentiated cyber threat defense solution by Darktrace to Korean companies, as well as work with Blocko to support commercialization of emerging blockchain technology in various sectors including IoT (Internet of Things).”
Blocko provides a proprietary blockchain platform to leading enterprises in Korea, enabling them to easily adopt this emerging technology.
Darktrace is a startup based in U.K. which uses advanced machine learning technology for detecting and responding to cyber threats.
