Infosys, one of the leading IT solutions company from India, has invested more than $62 million in startups which are operating in sectors of IoT, automation, etc. The company has invested in these startups through its Innovation Fund, which was set up in 2013.
The Innovation Fund was set up by the company with a corpus of over $100 million. Later, in 2015, the company expanded the corpus of its fund to over $500 million.
Commenting on this, Infosys CEO Vishal Sikka, said,
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.
He further added that they did a large deal with one of its banking clients where they brought two companies that have invested into building a solution around big data, cloud infrastructure, and are also working with start-ups.
From its Innovation Fund, Infosys has invested in more than a dozen start-ups including Stellaris Venture Partners, Unsilo, Trifacta, Cloudyn and TidalScale. While not directly, but these investments could play a role in helping Infosys reach its goals.
Vishal Sikka is now expecting nearly $1.5 billion to come from acquisitions, while about $2 billion to come from newer services to increase revenue per employee to $80,000 and an operating margin of 30 percent.
The company is also focusing on various new services like design thinking, solutions in artificial intelligence and intellectual property-led businesses that are expected to account for at least 10 percent of its revenues.