India: Infosys invests $4.6m in early stage venture fund Stellaris

Photo: Reuters

Infosys Ltd, one of India’s largest software firms, on Wednesday announced that it will invest about $4.6 million (Rs 31.6 crore) in Stellaris Venture Partners, a Delhi-based early stage venture fund.

This is Infosys’ third investment in the last two weeks after UNSILO, a Danish artificial intelligence startup, and US-based TidalScale.

Infosys has signed a definitive agreement to a Limited Partner investment of Rs31.6 crore from its Innovation Fund in Stellaris Venture Partners, the company said in a statement. The investment is towards the first close of Stellaris’ fund, it added.

The outsourcing firm had set up the innovation fund in 2013 with an aim to harness the entrepreneurial spirit in India by investing in startups that develop innovative technologies on automation, Internet of Things (IoT), and artificial intelligence (AI).

“We believe Stellaris with their extensive operational and domain expertise in enterprise software and services in both India and US, is uniquely positioned to leverage India’s capital efficient talent pool, to harness the next wave of enterprise innovation in India. With this investment we look forward to gaining early access to innovative new companies in India that are inventing the future of enterprises globally,” said Ritika Suri, Executive Vice President & Global Head of Corporate Development & Ventures at Infosys.

With the latest investment, Stellaris aims to back entrepreneurs building applications for global businesses, Indian SMBs and consumers in verticals such as financial services, retail, healthcare and education, the statement said. The investment is expected to complete by December 15, 2016.

“India has a vibrant technology startup ecosystem today that has the potential to create breakthrough companies on a global scale. We are very excited to partner with Infosys, whose deep technology expertise, understanding of global enterprises and worldwide footprint can be immensely valuable to the investment team as well as Stellaris’ portfolio companies,” said Alok Goyal, co-founder at Stellaris.

Founded by Goyal, Rahul Chowdhri and Ritesh Banglani, Stellaris has offices in Bangalore and Delhi NCR. The firm has invested in startups such as Taxisforsure, Bigbasket, Shopclues, Axtria, Lifecell and Simplilearn in the past.

Also Read: India: Infosys invests $2m in Danish AI startup UNSILO

India’s Infosys picks stake in US startup TidalScale

India: Infosys invests in second cloud computing startup Cloudyn from Israel

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.