Samsung Venture makes India debut with $8.5m investment in four startups

Photo: Bloomberg

Samsung Venture Investment Corporation (SVIC), the venture capital arm of South Korean tech giant Samsung, on Wednesday announced that it has invested $8.5 million (nearly Rs 60 crore) in four Indian startups.

These startups include system apps company OSLabs (Indus OS), speech technology startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an unnamed early-stage computer vision startup, per an announcement.

While the quantum of money invested in each startup was not disclosed, a company spokesperson told IANS that the investment in each startup ranges between $1 million and $5 million.

SVIC intends to make 100 investments in Indian startups over the next three to five years. The firm will invest in early-stage and growth-stage startups, which are engaged in technology areas or in healthcare and digital vernacular content.

Globally, SVIC invests in startups across the US, UK, Israel, Canada, China, South Korea and Japan, and currently has $2.2 billion worth of assets under management.

OSLabs, one of the companies backed by the venture capital unit, has developed a curated app store – Indus App Bazaar – with over 400,000 mobile apps in multiple Indian languages.

Bangalore-based Gnani.ai works in the realm of automatic speech recognition and natural language processing in Indian languages for building voice assistants and speech analytics.

Bengaluru-based Silvan Innovation Labs offers Internet of Things (IoT) solutions for homes and enterprises. The startup provides solutions that address safety, security, comfort, convenience and energy management.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.