Company Highlights: Samsung Group MioTech Virgin Orbit, Business and Market News and Updates

Samsung Group

Samsung has unveiled a 240 trillion won (S $ 279 billion) expansion that will require hiring 40,000 people over three years to bolster the South Korean conglomerate’s lead in next-generation technologies.

Samsung Electronics and its affiliates like Samsung Biologics aim to lead research and spending in areas ranging from telecommunications and robotics to business acquisitions. The country’s largest conglomerate is setting aside 180 trillion won for its home country alone and now aims to hire 10,000 more people during the period, in addition to the 30,000 new jobs already planned, the group said.



Sustainability data and solutions provider MioTech has brought together investments from Singapore sovereign wealth fund GIC and Guotai Junan International in a Series B + funding round.

The amount of the investment was not disclosed.

The funding will be used to expand and accelerate MioTech’s product development. The Hong Kong-based company, which uses artificial intelligence, provides environmental, social and corporate governance data to financial institutions, businesses and individuals. MioTech has offices in Hong Kong, China and Singapore.


Virgin orbit

Billionaire Richard Branson’s Virgin Orbit, a small satellite launch services provider, goes public through a merger with a blank check vehicle that values ​​it at around US $ 3.2 billion (US $ 4.3 billion Singaporeans).

The deal with NextGen Acquisition Corp II, announced Monday, includes $ 100 million in funding from Boeing, AE Industrial Partners and others in the form of private investments in public stocks, or Pipe.

Virgin Orbit and its rivals Firefly and Rocket Lab are among the companies that build miniaturized launch systems.


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