Samsung Venture’s premiere in India! Invests $ 8.5 million in four Indian Startups
Total Views |
New Delhi, Jul. 10: Indian startups are appreciated on the international level for innovative ideas. Now, giving new wings to this young businessmen, Samsung Venture has made its maiden investments in a system apps, Company OSLabs (Indus OS), speech technology startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an early stage computer vision startup.
OSLabs has developed a curated app store, Indus App Bazaar, which has a collection of over 400,000 mobile apps in multiple Indian languages.
Bengaluru-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 provides IoT solutions for homes and enterprises, addressing the issues of safety, security, comfort, convenience and energy management.
On this occasion, Rakesh Deshmukh, Co-founder and CEO, OSLabs said, “As we look to offer the Indus experience to wider audiences, these funds will help us reach our goal of empowering 100 million Indian users with a content and commerce platform in the language of their choice, thus ensuring a truly inclusive digital growth and an enriched user experience for everyone”.
Similarly, Samsung’s investment in Gnani’s ASR engine has the potential to power Samsung’s Bixby vernacular service in the With an installed base of over 6,000 homes and 12 live communities, Silvan’s products and IoT platform are expected to add value to Samsung’s efforts to have all its products IoT ready by 2020.
The investor said, “Similarly, Samsung’s investment in Gnani’s ASR engine has the potential to 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 add value to Samsung’s efforts to have all its products IoT ready by 2020”.
Corporate venture funds are not new to India. Several large corporates such as Alphabet Inc (CapitalG), Intel (Intel Capital), Qualcomm (Qualcomm Ventures), Microsoft (M12) run such funds to back startups across the world.