Samsung Venture invests $8.5 million in 4 Indian startups

Samsung Venture Investment Corporation (SVIC), the investment arm of the South Korean tech giant, 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.