India: Software giant Infosys writes off investment in Waterline Data Science

Photo: Mint

Bengaluru-based software giant Infosys Ltd Tuesday announced that it has written-off its investment in US-based Waterline Data Science Inc.

Infosys had made a minority investment in Waterline during 2016-18, it said in a BSE filing on Tuesday.

This is the third startup investment that has turned sour for Infosys.

“With regard to the minority investment made by the Company during 2016-2018 in Waterline Data Inc., the company [Infosys] informs that Waterline Data Inc. has completed the process of dissolution. There is nil consideration upon dissolution and accordingly, there are no dues outstanding to the company,” the filing said.

Meanwhile, Waterline will be acquired by a subsidiary of Japan’s Hitachi by the end of this month, the latter announced in January.

Headquartered in Mountain View, California, Waterline Data provides intelligent data cataloging solutions for DataOps that help customers more easily gain actionable insights from large datasets and comply with data regulations such as GDPR.

In December 2017, Infosys announced that it is selling its entire stake in Delaware, US-based ANSR Consulting Holdings Inc. for $1 million. The Indian IT company had bought a 5 per cent stake in ANSR for about $1.4 million in 2015.

This January, Infosys also sold its stake in Denmark-based startup UNSILO for $8,00,000. It had invested in UNSILO in 2016 about Rs14.5 crore from its $500 million innovation fund.

Infosys’s innovation fund was set up in 2013 with a corpus of $100 million for start-ups and other innovative businesses outside the company. The size of the fund was expanded to $500 million in January 2015.

The most recent investment announced by the fund was in 2019 when Infosys said it would invest $10 million in California-based artificial intelligence-focused The House Fund II.

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. 
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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.