Samsung Venture, a investment arm of a South Korean record giant, has invested $8.5 million in Indus OS and 3 other Indian startups as a company’s VC account starts a tour in a country.
Indus OS is a renouned Android flare that has built a apartment of localized applications focused on portion a masses in India. Samsung and Venturest saved a four-year-old startup’s $5.75 million Series B round.
Several smartphone vendors, including homegrown firms such as Micromax, Gioness, Intex and Karbonn, are business of Indus OS, integrating many of a facilities into their handsets. Earlier this year, Samsung partnered with Indus OS to revamp a Galaxy App Store.
Rakesh Deshmukh, co-founder and CEO of Indus OS, told TechCrunch in an talk that a startup will use a uninformed collateral to arise some-more internal solutions and build a program growth pack for developers that will capacitate them to make tweaks to their existent apps and supplement India-specific features.
Deshmukh pronounced Indus OS, that creates income from monetizing ads, would shortly partner with some-more smartphone vendors to enhance a strech in a country. This is essential to a startup as Indian smartphone vendors, that once tranquil a internal smartphone market, have mislaid a smartphone fight to Chinese vendors that now control two-thirds of a space, and Samsung.
The other plea is of march a arise of KaiOS, that has gained recognition in new years after distinguished a understanding with Indian telecom user Reliance Jio. Tens of millions of JioPhone underline handsets currently run KaiOS, giving many people fewer reasons to ascent to a smartphone.
Deshmukh pronounced he does not see KaiOS as a competitor. “It serves as a bridge. It is convincing many people to get online and try a multimedia phone for a initial time. They will eventually ascent to a improved experience,” he said.
Indian journal Economic Times reported progressing currently that Samsung now owns about 20% stakes of Indus OS. Representatives of a startup, that lifted $10 million in 3 tranches of Series A 3 years ago, refuted a claim. Deshmukh pronounced a association skeleton to lift some-more income in a entrance future.
Other than Indus OS, Samsung Venture has invested in Gnani.ai, a startup that focuses on debate technology, and IoT solutions provider Silvan Innovation Labs. The try arm pronounced it also has invested in an early-stage startup that focuses on mechanism vision, though declined to name it.
Samsung Venture, that has some-more than $2.2 billion in resources underneath management, pronounced it continues to lane and actively deposit in future-oriented businesses that are built on new technologies. Notably, Xiaomi, that surpassed Samsung to turn India’s tip smartphone businessman dual years ago, also has invested in about half a dozen startups in India.
India’s tech startups have lifted some-more than $20 billion in a final dual years. The country’s burgeoning ecosystem is increasingly attracting vital VC firms in a nation. SoftBank and Tiger Global, dual vast tellurian VC funds, count India as one of their biggest markets.
In new years, Google, Microsoft, Amazon and Facebook have also begun to interpose income in India’s startup space. Google has invested in smoothness startup Dunzo, while Amazon has taken stake in some-more than half a dozen internal companies, including Shuttl. Facebook invested in amicable commerce app Meesho final month.
Earlier this year, Microsoft stretched a M12 corporate try account (formerly famous as Microsoft Ventures) to India with an investment in Innovaccer, a six-year-old SaaS startup.