Infosys invests $ 62 million from its Innovation Fund

Infosys invests $ 62 million from its Innovation Fund

Posted by P. Charitha on January 23rd 2017

Infosys has invested close to $62 million, from its $500-million innovation fund, in start-ups covering areas like IoT, AI,  machine intelligence and drones. Infosys had set up the Innovation Fund in 2013. It beefed up the fund five-fold to $500 million in 2015 to provide financing to start-ups. The Bengaluru-based firm has spoken many times of its strategy to focus on renewing core business while building new  capabilities like design thinking and artificial intelligence at the same time.Infosys, which has been aggressively investing in start-ups over the last few quarters, will fund the latest investment of $ 62 million through its Innovation Fund. The investment is subject to receipt of regulatory approvals and customary closing conditions. 
 
The Infosys Innovation Fund invests in start-ups that demonstrate the following characteristics of being an early stage (typically Series A or B, occasionally seed) who have  demonstrated product-market fit and fit in the focus areas of Big data analytics , cloud infrastructure, machine intelligence, design thinking, drones, IoT   etc. Infosys has invested in more than dozen firms like US-based TidalScale, Danish artificial intelligence start-up UNSILO and Stellaris Venture Partners (an early-stage venture fund), Trifacto, Cloudyn. They also invested in ideaForge, an Indian start-up focused on unmanned aerial vehicle or UAV solutions (drones).    “The start-up world is incredibly exciting. We have been investing in companies there. We have been bringing these companies to our clients, and that rate at which we bring these companies to clients is just exploding,” Infosys CEO Vishal Sikka said.

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