Infosys made its first investment in an Indian startup by picking up 5% stake in Bengaluru-based ANSR Consulting for $1.4 million.
Infosys made its first investment in an Indian startup by picking up 5% stake in Bengaluru-based ANSR Consulting for $1.4 million. ANSR Consulting, led by founder Lalit Ahuja, is a strategic consulting and implementation firm which helps global enterprises establish service delivery and innovation capabilities in India.
ANSR Consulting helps Fortune 500 companies like Limited Brand, Lowe’s and Target to set up captive centres in the country. Earlier this year, it had raised $9 million from Accel Partners and a clutch of family offices.
“We are very excited to partner and invest in ANSR Consulting. This investment reflects our commitment to new, innovative business models,” said Ritika Suri, SVP and global head of corporate development, Infosys.
Infosys has already set up a $500 million global innovation fund to invest in startups, with half of this amount dedicated to India-based firms.
Besides, the IT major has also set aside $10 million of this fund to invest in Ireland-based startups.
The innovation focuses on investing in new technologies like artificial intelligence and internet of things. Infosys recently invested in Airviz, a personal air quality start up spun off from Carnegie Mellon University.
Infosys has been quite active on the inorganic front as it recently acquired US-based digital experience provider Kallidus (which does business under the name of Skava) for $120 million (Rs 756 crore).
In February, Infosys acquired US-based automation technology company Panaya for $200 million (over Rs 1,200 crore) with a valuation that was six times the multiple of its revenues.