Infosys has invested $62 million in start-ups
The Dollar Business Bureau
Infosys has invested $62 million in start-ups related to automation, IoT and drones. To encourage entrepreneurs who provide innovative solutions in areas related to the core business of Infosys, it started an innovation fund in 2015. The size of the fund is $500 million, which is meant to support upcoming ventures in the IT arena.
“The startup 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.
The Infosys Innovation Fund supports numerous startups like Stellaris Venture Partners, UNSILO, TidalScale, Cloudyn, Trifacta, Waterline Data, WHOOP, Cloud Endure, ANSR Consulting, Airviz Speck, Vertex Ventures and Nova. Consulting, video making, cloud storage, sports team performance optimisation, decision making, analytics for problem solving, artificial intelligence and other software services have been invested in via the aforementioned companies.
These investments are parked globally in firms headquartered at various locations including San Francisco, Boston, New York, Singapore, Bangalore, Denmark, and California.
These investments are not limited to financial aid. Infosys provides companies with early-stage capital, mentorship, product validation, customer introductions and go-to-market scale. Access to the large client base of Infosys is one of the major reasons new businesses partner with Infosys. For Infosys, the benefit lies in deepening relationship with clients by offering extended services and enlarging the range of its products.
The overall financial, technical and customer support Infosys provides via the innovation fund and other company resources is valuable to the nascent firms which have been chosen on the basis of their potential to transform and grow Infosys' core services.