📰 Table Of Contents
Samsung Subsidiary Invests in Roam
The Samsung subsidiary Samsung Next, affiliated with Samsung Electronics, has recently invested in the DePIN player Roam. This undisclosed investment aims to support Roam in building a global network of WiFi roaming nodes and developing a DeWi ecosystem.
About Samsung Next
Samsung Next, a venture capital arm of Samsung Electronics, focuses on investments in various sectors, including AI, Internet-of-Things, crypto, and blockchain. With a presence in the United States, Samsung Next has previously invested in overseas crypto projects such as FTX.
Previous Investments
In a strategic financing round last year, Samsung Next participated in a funding round that raised $5 million for Roam. The recent cash injection amount remains undisclosed. Samsung Next has a history of backing crypto and blockchain startups, including Sky Mavis and Alchemy.
Roam’s Perspective
Roam expressed gratitude for Samsung Next’s commitment to fostering blockchain innovation. The backing from Samsung Next signifies a recognition of Roam’s potential and innovation in the DePIN space.
Understanding DePIN
DePIN, or Decentralized Physical Infrastructure Networks, focuses on blockchain-powered management systems for real-world physical infrastructure like computing power, WiFi networks, and data marketplaces. These projects incentivize service providers using digital coins through decentralized applications.
Roadmap for Roam
Roam announced that Samsung Next’s investment will enhance its capabilities by integrating the latest technologies and protocols. The goal is to expand its user base to both traditional Web2 and Web3 users, aiming to provide decentralized internet access worldwide in a user-centric, secure, and transparent manner.
Other Backers
Aside from Samsung Next, Roam has received support from crypto and blockchain investors such as Volt Capital and Comma3 Ventures.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
