Saturday, October 31, 2020
Home Business Infosys goes global, set to invest $10 million in Irish start-ups

Infosys goes global, set to invest $10 million in Irish start-ups

Bengaluru: Global software major Infosys Ltd on Friday announced it would invest $10 million (Rs.64 crore) in Ireland-based start-ups as it made a foray into the island-nation by winning a deal from Allied Irish Banks, plc.

“The $10-million investment in Irish start-ups will be from our global innovation fund to leverage our strategic partnership with Allied Irish Banks, a leading financial services group,” the company said in a statement here.

AIB Bank Centre, Ballsbridge, Dublin 4, Ireland
AIB Bank Centre, Ballsbridge, Dublin 4, Ireland

The innovation fund, set up in 2013 with $100 million, was expanded to $500 million in January by its first non-founder chief executive Vishal Sikka to invest in software product start-ups worldwide, including India, which are working in disruptive technologies.

“Investment in the Irish start-up community reflects our belief that Ireland is home to entrepreneurs who share our technology vision to drive growth,” Infosys’ financial services global head Mohit Joshi said in the statement.

The partnership with the Irish bank will be a springboard for the IT outsourcing major to expand its services into a new market and share its expertise with start-ups developing and enabling disruptive technologies.

We will leverage our domain expertise in financial services and other industry verticals to support digital transformation and strategic-growth plans of the Irish bank,” Joshi added.

To provide transformational and innovation services, the city-based company will set up a 200-seat development centre in Dublin for the Irish Bank staff.

(IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,779FollowersFollow

Most Popular

Menstrual Dysfunction Prevalent in Young Athletes

Researchers, including one of Indian-origin, have found that menstrual dysfunction is more prevalent in young athletes than among non-athletes of a similar age. The study,...

Spinning Keeps You Energized and Your Mind Focused

One of the most popular cardio work-outs in North America, Latin America, Europe, and other parts of Asia, and a current global phenomenon, rhythm-based...

Change in Indian Healthcare Industry is Need of the Hour

With all the chaos created due to the pandemic, a change in the Indian healthcare industry is the need of the hour, feels Anita...

Food Habits to Follow if You Have Arthritis

Arthritis is an autoimmune disease that affects joint and bone pain. It could be a problem or a matter of concern, If not taken...

New Mask Aiming to Make Wearer Less Infectious

People wear face masks to protect others -- not merely to protect themselves. With this in mind, researchers have developed a new concept for...

Cognitive Disorders Increase Risks of Developing Severe COVID

Researchers have claimed that dementia and other cognitive disorders now appear to be the risk factors for developing severe COVID-19. The findings, published in the...

Localized Content Driving New Customers in Amazon Prime Video

Riding on localized content being churned out in countries like India, the number of Prime members who stream Prime Video grew by more than...

Cheerful People Likely to Experience Less Memory Decline

People who feel enthusiastic and cheerful -- what psychologists call "positive affect" -- are less likely to experience memory decline as they age, say...

Recent Comments