With its $500 million fund, Infosys, one of the leading IT services company from India, has been investing in startups, especially overseas startups. Continuing this, Infosys has now invested in California-based TidalScale.
The financial details related to the deal remains undisclosed. Interestingly, the startup has been founded by Infosys chief executive Vishal Sikka’s former SAP colleague Ike Nassi.
This investment marks the 10th investment for Infosys from its $500 million innovation fund. California HQed TidalScale, which was founded in 2012, helps provide a robust architecture for customers trying to solve large computing problems.
Commenting on the investment, Ritika Suri, executive vice-president of corporate development and ventures at Infosys, said:
As a pioneer of SoftwareDefined Servers, TidalScale provides solutions that are extraordinarily simple to use, requiring absolutely no changes to existing operating systems, databases, or applications. Among our client base, we see a need for inventive and cost-effective approaches to derive business value from big data, and our investment in TidalScale underscores our commitment to our clients to bring innovative new solutions across our platforms and offerings.
Gary Smerdon as President and Chief Executive Officer of TidalScale, said:
The Software-Defined Server technology created by TidalScale enables customers to glean insight from ever-growing data volumes by scaling systems quickly, easily and affordably across virtually any population of commodity servers. We believe this partnership with Infosys, a global leader in nextgeneration services, will provide significant value to our customers and help them easily expand the amount of data they are able to digest, analyze and act upon.
TidalScale claims to be the leading provider of Software-Defined Servers that simplify the way companies can apply computing resources to tackle big data problems. Its solutions deliver in-memory performance at any scale, are self-optimizing, use standard hardware and are compatible with all applications and operating systems.
Infosys, with its $500 million innovation fund, has made investments in two cloud-computing start-ups — Israel-based Cloudyn and CloudEndure. Apart from those two startups, it has also invested in Waterline Data Science and Trifacta in the current year.
Besides investing in startups, Infosys acquired four companies last year, which include Panaya, Kallidus Technologies, Skava and Noah Consulting.
The Infosys Innovation Fund was launched in 2015 with an aim to invest in entrepreneurial ventures delivering innovation in domains relevant to the company’s core business. It aspires to amplify start-ups that build purposeful solutions.