razzle: Invariant Violation: Invalid tag for SVG

I was using svg-react-loader to import SVG in component in client side app.

I am trying to move to server-side and working around to integrate Razzle, resolving errors.

Somehow svgs are not working. When I open the url, this what getting displayed:

build/static/media/ folder has two variant of each images, one has svg code other has react code to render svg.

The image in above pic has react code:

Any solution?