Bangalore – November 23, 2016: Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has signed a definitive agreement to a Limited Partner investment of INR 31.6 crores from its Innovation Fund in Stellaris Venture Partners, an India-based early stage venture fund. This investment is towards the first close of Stellaris’ fund.
India’s startup ecosystem is witnessing rapid growth led by areas such as cloud computing, Internet of Things (IoT), artificial intelligence and big data, as well as the widespread proliferation of smartphones. In this environment, Stellaris aims to back entrepreneurs building applications for global businesses, Indian SMBs and consumers in verticals such as financial services, retail, healthcare and education.
Stellaris’ investment team has significant experience working in global technology companies and a strong track record in venture capital, with investments made in companies such as Taxisforsure and Bigbasket to name a few. Stellaris has built a robust network of successful entrepreneurs and advisors to source, evaluate and mentor the best Indian startups.
“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.
“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.
The investment is expected to complete by December 15, 2016.
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