cryptonews.net
Samsung subsidiary Samsung Next, a subsidiary of Samsung Electronics, has invested in the DePIN player Roam. According to the South Korean media outlet Global Economic, these funds will help Roam build a network of global Wi-Fi roaming nodes. The firm, which is run by MetaBlox, is also building a DeWi (decentralized Wi-Fi) ecosystem.
Samsung Next is the venture capital arm of Samsung Electronics. The focus is on investments in sectors such as artificial intelligence, Internet of things, cryptocurrency and blockchain. The firm has a presence in the United States and has previously invested in overseas crypto projects, including FTX. Late last year, Samsung Next joined Roam’s strategic funding round, which raised $5 million. Neither party disclosed the size of the Samsung subsidiary’s latest funding.
Samsung Next has previously supported cryptocurrency and blockchain startups. Its previous moves include a 2021 investment in Sky Mavis, the Vietnamese firm behind blockchain game Axie Infinity. The South Korean firm also backed developer platform Web3 Alchemy, as well as now-defunct NFT player Nifty’s.
Image: Samsung Newsroom