Samsung is investing $8.5 million in four startups
The investment arm of Samsung, Samsung Venture Investment Corporation, said that it is making 8.5 million worth of investments into four different startups in India. According to the sources, the investment firm of Samsung has invested in OSLabs, a system apps company. Moreover, it also invested in Gnani.ai, a speech tech startup, Silvan Innovation Labs, IoT solutions provider and computer vision startup.
The investment that Samsung has made in the products of Silvan will help Samsung and Silvan for adding value to their efforts. They would also make the products ready for IoT by the end of 2019 or early 2020.
On the other hand, Samsung recently said that its SmartThings platforms would aid the consumer to connect to a whole new range of smart devices easily. Samsung is trying to expand the line-up of these products. The South Korean conglomerate is also focusing on enhancing the SmartThings camera, SmartThings light bulb, and SmartThings Wi-Fi plug.
Samsung is working closely with a group of startups who are committed towards the building of purposeful and innovative technology in India and around the world. The ecosystem of Indian startup has grown in the last few years, alongside the early-stage companies. They are also working on state-of-the-art services and technology, mostly in industries like IoT, AI, cloud as well as significant other technology solutions.
The South Korean giant is exceptionally dedicated to work and invest in Indian startups. Samsung feels that this will lead to more of a win-win scenario by helping the startups to scale up their solutions. By the looks of it, this engagement would help Samsung in getting an opportunity by enriching their services, products, and offerings to the customers.
The investment arms are taking an interest in the business that focuses on future advancement alongside innovative technologies.
**This post was published on https://telecom.economictimes.indiatimes.com
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