Indian tech giant Infosys recently announced that it has completed the sale of its stake in Danish startup UNSILO for $800,000, approximately ₹5.7cr. Infosys had invested in UNSILO in 2016 about ₹14.5cr from its $500mn innovation fund.
UNSILO is an AI startup focused on advanced text analysis. It uses a combination of machine learning and natural language processing to analyze large texts and improve the speed and effectiveness of knowledge workers across industries.
Infosys through a company filing, on Tuesday, said that “the company announces that it has, on January 28, 2020, completed the divestment of its shares in Unsilo A/S for a total consideration of approximately US$ 0.8 million.”
Infosys founded the innovation fund in 2013 to invest in startups and other innovative businesses outside the company. Originally the fund was launched with a corpus of $100mn but later in January 2015, it was expanded to $500mn.
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