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Start-ups working on IoT, automation and drones to get a $62 million backing from Infosys

#Startups working on #IoT #automation and #drones to get a 62M backing from @Infosys

  • The company had set up its innovation fund in 2013, for start-ups and other innovative businesses outside the company with a corpus of $100 million.
  • We have been bringing these companies to our clients and that rate at which we bring these companies to clients is just exploding.
  • Sikka added, “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-ups.”
  • The company is said to be focussed on services like design thinking, solutions in artificial intelligence and intellectual property-led businesses.
  • Start-ups working on IoT, automation and drones to get a $62 million backing from Infosys

India Infosys has decided to invested about 62 million from its 500 million innovation fund in start-ups that work on IoT automation and drones

@evankirstel: #Startups working on #IoT #automation and #drones to get a 62M backing from @Infosys

NEW DELHI, India – India’s Infosys has decided to invested about $62 million from its $500 million innovation fund in start-ups that work on IoT, automation and drones. 

The company had set up its innovation fund in 2013, for start-ups and other innovative businesses outside the company with a corpus of $100 million.

Then, in January 2015, it expanded the size of the fund to $500 million. 

Infosys CEO Vishal Sikka said in a statement, “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.”

According to Sikka, so far, $62.18 million has been spent from the innovation fund in investments made in over a dozen start-ups including Stellaris Venture Partners, Unsilo, Trifacta, Cloudyn and TidalScale. 

Infosys aims at reaching its “aspirational goal” of $20 billion revenues by 2020.

The company’s CEO added that about $1.5 billion will come from acquisitions, while about $2 billion will come from newer services to increase revenue per employee to $80,000 and an operating margin of 30 percent.

The company is said to be focussed on services like design thinking, solutions in artificial intelligence and intellectual property-led businesses. these services are reportedly expected to account for at least 10 percent of its revenues. 

Sikka added, “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-ups.”

Start-ups working on IoT, automation and drones to get a $62 million backing from Infosys