India’s second-largest IT services company Infosys has said it has made a follow-on investment of US$ 1.5 million in Waterline Data Science. The company will make the investment through its corporate venture fund — Infosys Innovation Fund. The Fund, with a corporate fund of US$ 500 million, was set up in 2015 during former CEO Vishal Sikka’s initiative to invest in technology companies. “With the investment, Infosys will hold a share not exceeding 20% of the outstanding capital of the US-based company,’ Infosys said in a statement.
Waterline Data Science is a provider of data discovery and data governance software. In January 2016, Infosys had made an initial investment of US$ 4 million in the company. The investment is expected to be completed by April 6, 2018, subject to necessary approvals.