Infosys, India’s second largest software company has made its first start-up investment, tapping into the $500 million fund it set up earlier.
The IT company has invested $15 million in an unnamed firm related to NASDAQ – listed DreamWorks Animation, as per separate media reports citing the company’s CEO Vishal Sikka.
Speaking at the Goldman Sachs Technology and Internet Conference held at San Francisco on Tuesday, Sikka said this unit has brought its animation technology to industries like retail among others. He added that Infosys is the only external investor in this company.
Although the name of the firm is not revealed, Infosys is currently operating with a company called Clique Intelligence, that is backed by DreamWorks and HP. This firm had last year raised around $5 million from these two companies and was expected to raise further $15 million. Spokesperson from Infosys said that the firm has not invested in Clique but the Indian IT has only partnered it.
Infosys also has a similar working relationship with another firm named Ooyala. Ooyala was founded by Google exec Bismarck Lepe along with his brother and colleague in 2007. The firm is into video technology and services and offers a suite of software and productive services.
In the meantime, Infosys’ investment comes three months after it declared a strategic engineering partnership with DreamWorks Animation. In the deal, the two companies intend to work together to further develop DreamWorks’ technologies to bring them to wider use. Infosys is to organize its global talent pool across cloud, Big Data, Java and open source capabilities to develop next generation solutions based on the DreamWorks technology.
DreamWorks animation is known for the production house of animation movies. It was spun off a public listed firm from DreamWorks Studios.
This $15 million investment by Infosys is arguably the first investment from the global innovation fund which was set aside to fund startups and new ideas in the field of next generation technology.
In August 2014, Sikka took over as the first non-founder CEO of Infosys and laid down plans to transform the troubled tech company by working with the startup community, further strengthening intellectual property, products and platforms and also finding new software opportunities with clients. Sikka has also claimed the revenue per employee would also move up in near future.