Multinational Corporation Infosys has invested over 62 million dollars in innovative start-ups.
The innovation Fund by Infosys, invests in companies working in fields like Machine Learning, Big Data Analytics, Infrastructure and Cloud etc. In 2013 The fund was set up with a 100 million corpus. The fund size increased to 500 million in 2015. Vishal Sikka, CEO of Infosys expects these investments to pay off in the future. In a statement Mr. Sikka said that, he expects these new investments to contribute 1.5 billion USD. Infosys has set a target to reach 20 billion revenue by 2020.
Infosys is investing aggressively in startups.
Companies Infosys has invested in are:
IdeaForge- The startup develops Unmanned Aerial Vehicles. The startup has developed advanced UAV’s with cutting-edge technology. The Indian Armed Forces uses IdeaForge UAV’s for surveillance and rescue operations.
UNSILO- It’s an Danish artificial intelligence which focuses on advanced text analysis.
WHOOP- It develops Wearable Fitness Device. This device helps boost athlete’s performance. The device monitors sleep, heart rate, etc and suggests recommendations based on the data collected.
NOVA- The startup develops API’s to create film quality images and videos for advertising.
Waterline Data- It’s a startup that works with Big Data. It helps companies make better decisions with data analysis.
Airviz Speck- The startup produces air purifier which monitors air quality and provides feedback.
Other startups Infosys has invested in includes Stellaris Venture Partners, TidalScale, Cloudyn, TriFacta, CloudEndure, ANSR Consulting, Vertex Ventures.
Infosys has stepped up the investments. Infosys has a turnover of over 500 million in this quarter alone. Thus, the startups have a new strong backup. Infosys is also banking on these startups to provide a return on the investment in next 3-5 years while also looking at new companies to invest in.
