SVIC gains 20% stake in Indus OS for $5.75 Mn
Indus OS has cracked a deal with Samsung where the latter has invested $5.75 million (Rs 42 crore) through its venture capital arm, Samsung Venture Investment Corporation (SVIC).
SVIC has picked up 20% stake along with a board seat in the Mumbai-based venture. Indus OS is estimated to be valued under Rs 200 crore in the financing round.
The deal has allowed Samsung to integrate Indus OS’s app store - App Bazaar with Galaxy App Store. App Bazaar has over 400,000 apps available for downloads across 12 regional languages. It claims to have more than 100 million downloads from its app marketplace.
Indus OS is ahead of Apple’s iOS & Microsoft’s Windows. Currently, it commands a user base of 18 million, across its smartphone brand partners such as Micromax, Intex, Karbonn, Celkon, and Swipe.
Through this the company expects to power 100 million smartphones with its operating system over the next two years. Indus OS is built on Android and designed for first time Internet users with regional languages such as Hindi, Tamil, Telugu, Gujarati, and Marathi.