Samsung Venture Unit reinstates four Indian startups with an investment of $ 8.5 million
Samsung Venture Investment Corporation (SVIC), which is the investment arm of Samsung, which actively invests in future-oriented businesses in Globe, has announced its first investment in India, which is in the four Indian startups. The total is 8.5 million USD.
Being a pioneer in innovation, Samsung works closely with a host of startups committed to building innovative and purposeful technologies across the world and in India. The investment arm of the company has decided to invest in a system app company OSLabs (Indus OS), Speech Technology Startup Gnani.ai, IoT Solution Provider Silver Innovation Labs and an early-stage computer vision startup.
OSLabs has developed a Curated App Store, Indus App Marketplace, which has a collection of more than 400,000 mobile apps in many Indian languages. Bangalore-based Gnani.ai works in the field of automatic speech recognition and natural language processing in Indic languages for the construction and speech analysis of sound assistants. Speech Recognition is an important part of today’s human-to-machine interaction and requires automatic speech recognition (ASR) in the Vernacular Language space.
On the other hand, Silvan Innovation Labs is the pioneer in IoT solutions for homes and enterprises and has pioneered solutions for smart spaces. Provides startup solutions that address safety, security, comfort, convenience and energy management.
Four investments made by SVIC in Indian Startups are strategic in nature. Samsung recently partnered with OS Labs to launch the new Galaxy Store, operated by the Indus App Market, which offers app search and download experience for consumers in 12 local Indian languages besides compulsory sign Without these individual app offers recommendations.
Similarly, Samsung’s investment in Gnani’s ASR engine has the potential to power Samsung’s Bixby Vernacular service in the future. With an established base of more than 6,000 homes and 12 living communities, Sylvain’s products and IoT platforms will add value to Samsung’s efforts to prepare all its products by 2020.
SVIC is actively investing in future oriented businesses based on new and innovative technologies which are hoping to serve as a new development engine. It was established to promote promising companies engaged in the development of new technologies. By March 2019, SVIC has more than US $ 2.2 billion in assets under management.