Infosys has invested over $60 million in startups from its innovation fund

Infosys had setup an investment fund in 2013 with total value of $100 million, and expanded it to $500 million in 2015. The fund is used to invest in startups and other innovation businesses outside the company. Since then, the firm has invested $62 million from that corpus in more than a dozen startups such as Stellaris Venture Partners, Unsilo, Trifacta, Cloudyn and TidalScale working in areas such as IoT, automation and drones.

Infosys is focusing aggressively on new services like design thinking, solutions in artificial intelligence and intellectual property-led businesses, and investment in such startups is expected to help the firm reach its “Aspirational goal” of $20 billion revenues by 2020.

Vishal Sikka, CEO Infosys, said that “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. So that’s very exciting, Few weeks ago we did a large deal with one of our banking clients where we brought two of our companies that we have invested in into building a solution for them around big data, cloud infrastructure and so this is a very exciting time, we are working with start-up.”