Recently Software major Infosys announced that it will be investing Rs 31.6 crore in a Delhi-based early stage venture fund ,Stellaris Venture Partners.
A spokesperson from Infosys also mentioned this investment is towards Stellaris’ fund’s first close and will be done by 15th December.
The IT giant had set up a Innovation Fund in 2013 with a motto of financing technologies which are working towards new technologies and also expanded a capital of $500 million for the same.
Company in a statement said “India’s startup ecosystem is witnessing rapid growth, led by cloud computing, Internet of Things, artificial intelligence and big data due to proliferation of smartphones,”
Mentioning about Stellaris, they have built a huge network of entrepreneurs and advisers which source, mentor and evaluate best Indian Startups.
In response to this investment “In this environment, Stellaris aims to back entrepreneurs building applications for global businesses, Indian SMBs (small and medium businesses) and consumers in verticals such as financial services, retail, healthcare and education,”
Ritika Suri, Infosys’ global head of corporate development and ventures mentioned they believe that Stellaris is uniquely positioned with operational and field expertise in enterprise software and services in India and the US. This will help them leverage the country’s capital efficient talent thus bringing innovation to enterprise business. He added “India has a vibrant technology start-up ecosystem with the potential to create breakthrough companies on a global scale,”
Stellaris co-founder Alok Goyal said that partnering will be a very valuable investment for the team and their portfolio of companies.
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Madhurima Goyal, From ITvoir News Desk