Samsung venture capital arm — Samsung Venture Investment Corporation (SVIC) has joined a large number of foreign and domestic corporate such as SoftBank Group, Alibaba, Google, Microsoft, Amazon, Intel, etc., in backing Indian startups.
Samsung, which runs its corporate venture capital arm — Samsung Venture Investment Corporation (SVIC) has joined a large number of the foreign and domestic corporate in India backing startups through their venture capital fund. SoftBank Group, Alibaba, Tencent, Google, Microsoft, Amazon, Reliance, Times Group, Qualcomm, Intel, Naspers, Target etc., are among the leading conglomerates that have actively backed Indian startups. Flipkart had also earlier this year set up its own fund to back startups.
Large businesses have been investing in Indian startups from a long time either through their own venture capital arms, family office, incubator/accelerator vertical or investing on a standalone basis.
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SVIC has started with investing in four Indian startups — smartphone operating system Indus OS, speech analytics company Gnani.ai, home automation company Silvan Innovation Labs and an undisclosed computer vision startup. The total funding in four startups stood at $8.5 million.
Source: Financial Express
