Infosys Innovation Fund exits UNSILO

Infosys Innovation Fund, the startup fund of Infosys Ltd with US$ 500-million, has offloaded its stake in Denmark-based Artificial Intelligence (AI) firm UNSILO, at less than half the price it had invested.

Infosys said in a stock market disclosure that the fund sold its minority stake in UNSILO for around US$ 800,000 (Rs 5.7 crore at current exchange rates). This is far lower than US$ 2 million that it had invested in Danish company in 2016.

In 2017, the fund had exited ANSR Consulting Holdings Inc., which helps multinational companies to bring global captive units to India. It had sold its stake for US$ 1 million, lower than US$1.4 million that it had invested in the US company.

The fund exited UNSILO as part of a deal where the Danish firm is being acquired by a global scientific communications company.

UNSILO provides AI tools and solutions to publishers, which helps them in growing their business as well as improve customer experience through products.

Infosys fund has been dormant in terms of making new investments and had made headlines for the top-level churn it went through in 2018. It did not have a head for almost 10 months until April 2018, when Infosys named Deepak Padaki to lead the investment vehicle.

The fund has so far invested in nine startups and two venture capital firms. Its bets include WHOOP Inc, a company offering performance optimisation solutions for athletes and sports teams. It had also picked up stake in CloudEndure, an Israeli startup which provides cloud migration and cloud-based disaster recovery software.