Samsung invests USD 8.5 mln in four Indian startups

Friday 12 July 2019 | 07:52 CET | News
Samsung Venture Investment Corporation (SVIC), Samsung’s investment arm, has announced its maiden investments in India, totaling USD 8.5 million across four Indian startups. Samsung Venture decided to invest in system apps company OSLabs (Indus OS), speech technology startup Gnani.ai, IoT services provider Silvan Innovation Labs, and an early stage computer vision startup.

OSLabs has developed a curated app store dubbed ‘Indus App Bazaar’, which has a collection of over 400,000 mobile apps in multiple Indian languages. Bangalore-based Gnani.ai works in the space of automatic speech recognition and natural language processing in Indic languages for building voice assistants and for speech analytics.

Silvan Innovation Labs is a IoT services provider for homes and enterprises. The startup provides services for safety, security and energy management.

Samsung had recently partnered with OS Labs to launch the new Galaxy Store, powered by Indus App Bazaar, which brings app discovery and download experience to consumers in 12 local Indian languages in addition to English and offers personalized app recommendations without mandatory sign in.

Samsung also says its investment in Gnani’s ASR engine could power Samsung’s Bixby vernacular service in the future. With an installed base of over 6,000 homes and 12 live communities, Silvan’s products and IoT platform will support Samsung’s efforts to have all its products IoT ready by 2020.

As of March 2019, Samsung Venture has over USD 2.2 billion in assets under management. In 2018, Samsung reports it invested over USD 15 billion on R&D through its 36 R&D centres globally and plans to invest USD 22 billion over the next three years in areas such as AI, 5G, automotive electronics components and biopharmaceuticals.

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Categories: Mobile & Wireless
Companies: Samsung
Countries: India
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