Infosys is continuing with its strategy of investing in promising startups from the tech sector, overseas. This time, the company has expressed its love for cutting edge technologies by pumping in a sum of $4 million in US-based data science startup Waterline Data Science.
The acquisition looks to have been made after considerable thought. Waterline Data Science is a company that provides cutting edge data discovery services and data governance software, and its technologies combined with the data assets in Infy’s possession, are bound to prove very useful.
Speaking on the topic Ritika Suri, Senior Vice President of Corporate Development at Infosys said,
We see a need for automated data discovery solutions like Waterline Data Science in helping our clients achieve greater business value from their Big Data assets. This investment underscores our commitment to our clients to bring innovative data science solutions across our platforms and offerings.
According to Infosys, the deal is expected to conclude soon and will leave the company owning up to 20 percent of the Delaware, USA based company.
Jackson Square Ventures and Menlo Ventures are some of the other backers of the data startup, making this investment from an IT giant, even more significant.
The money for the investment came from Infosys’s VC kitty, the Infosys Innovation Fund. The fund recently underwent a major expansion — in a reflection perhaps of the company’s increasingly global ambitions — when it received a boost of $400 million, taking it up to an impressive $500 million.
The company has so far committed $39 million into emerging businesses, including significant amounts in CloudEndure and WHOOP.
Incidentally, choosing a US based company over an Indian startup is another fact that sticks out. While we had hints that something of this nature had been brewing up for long, this investment brings the preferences of Indian IT companies to the fore.