Samsung Venture invests $8.5 mn in 4 startups

New Delhi: Samsung Venture Investment Corporation (SVIC), the investment arm of the South Korean tech giant on Wednesday said it has made its maiden investment in India by pumping in $8.5 million (approximately Rs 58.28 crore) in four Indian startups.

SVIC, which has invested in a number of startups globally and has over $2.2 billion in assets under management, hopes to make 100 investments in Indian startups over the next three-five years.

The startups chosen by SVIC include system apps company OSLabs that runs Indus operating system, speech technology startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an early-stage computer vision startup.

Samsung closely works with a host of startups that are committed towards building innovative and purposeful technologies across the globe, Aloknath De, Corporate Vice President and Chief Technology Officer at Samsung R&D Institute Bengaluru.

"We have invested $8.5 million in four startups in India, our intent is to make over 100 investments here in the next three-five years," he added. De said SVIC will invest in early stage and growth-stage startups in India that are engaged in technology areas or work on services, like healthcare and vernacular content, digitally.