IT services provider Infosys today $250 million Innovate in India Fund from its recently expanded Innovation Fund.
The Innovate in India Fund will be dedicated for investments in promising new Indian companies.
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Earlier, Infosys has expanded its Innovation Fund to $500 million to create ecosystem of innovation. The Fund will be used to invest in young companies innovating in next-generation solutions and technologies such as Artificial Intelligence (AI), automation, pervasive connectedness as well as collaboration and design technologies.
Infosys CEO Vishal Sikka said: “With the Innovate in India Fund, Infosys will invest in great Indian start-ups, help amplify their engineering and operations, as well as help bring their innovations to market at scale.”