Infosys earlier announced the creation of an ‘Innovate in India Fund’ from its $ 500 million Innovation Fund.
The $250 million (INR 1,550 crore) Innovate in India Fund will be dedicated to investments in promising new Indian companies. These companies will be inducted into the global ecosystem of strategic partners that Infosys is building.
As part of the Infosys Innovation fund, Infosys has launched Infosys Incubator. This incubator will help identify, nurture and grow companies engaged in innovative, new, and disruptive technologies that can help our business, and create future growth areas.
By guiding and mentoring these businesses early, we hope to have the first pick of new innovations that we can bring to market and scale, thus improving the chances of viability and long-term success for the startups involved.
Apart from Panaya, Infosys has acquired digital company, Kallidus and invested $2mn in Airviz ( personal air quality monitoring startup and spinout from Carnegie Mellon University).