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

Vishal Sikka, CEO & MD, Infosys. Photo: Hemant Mishra/Mint

Indian IT services major Infosys Ltd has invested DKK 14.92 million ($2.14 million) in UNSILO, a Danish artificial intelligence startup focussed on advanced text analysis, the company said in a stock market disclosure on Friday.

The deal is subject to regulatory approvals.

The investment comes just within a week after the IT firm, through its innovation fund, backed US-based TidalScale.

“UNSILO have built an impressive semantic search engine with best-in-class text intelligence, which powers a range of advanced business processes. We will partner with UNSILO to bring their artificial intelligence and machine learning technology to our global clients. They join and expanding portfolio of innovative young companies from around the world that Infosys works with to help enterprises drive their digital transformation,” said Ritika Suri, executive vice-president & global head of corporate development & ventures at Infosys.

UNSILO was founded in 2012. The company uses a combination of machine-learning and natural language processing to analyse large quantities of text and improve the speed and effectiveness of knowledge workers across many industries.

“Making sense of any large amount of unstructured text is a huge challenge for many industries. Pairing our ground-breaking technology with Infosys’ deep client relationships and strong capabilities in project delivery and go-to-market will give us a unique opportunity to bring our services to several new industries and expand globally far more quickly,” said Thomas Laursen, chief executive officer at UNSILO.

UNSILO has partnered with academic publishing, intellectual property, and regulatory content, and delivers workflow and decision support tools for editors, researchers, and sales personnel.

The Bangalore-based IT firm has been investing in innovative technology companies. Last year, Infosys chief executive Vishal Sikka set aside $500 million to invest in startups and has already spent $33 million in nine startups and one venture capital firm.

In August, Infosys had invested $4 million in Israeli SaaS startup Cloudyn.

Infosys’ cross-town rival Wipro has also made several investments this year. In October, it announced to buy US-based cloud services firm Appirio for $500 million. Before that in September, the company was buying China’s FMCG player Zhongshan Ma. It also invested in some Israeli companies including H R Givon, Insights Cyber Intelligence and TLV Partners.

Also Read:

India: Infosys invests in second cloud computing startup Cloudyn from Israel
India: Has Wipro’s Rishad Premji triumphed over Infosys’s Vishal Sikka?

Singapore Reporter/s

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

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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.