Infosys to Invest in ideaForge an Unmanned Aerial Vehicle Firm
By MEHER ONISA : 15-Dec-2016
New Delhi: Infosys, India’s second largest software services firm has declared about its investment with ideaForge a start-up focused on unmanned aerial vehicle solutions (drones). ideaForge’s high performance UAVs are designed and manufactured in India.
Infosys that has been aggressively investing in start-ups over the past quarters will now fund its resources through its Innovation Fund.
ideaForge’s drones runs fully autonomous operation, failsafe technology, image intelligence, live feed, support complex payloads plus the thermal and high-resolution imagery. These smart devices and instrumentations are widely installed by the Indian Armed Forces for surveillance, crowd monitoring and rescue operations.
The software giant’s EVP and global HOD Ritika Suri said that his company is looking forward to working with ideaForge to yield on technology, expertise, and solutions for the benefit of its clients.
Infosys set up its Innovation Fund in 2013 and has been profiting five-fold to $500 million in 2015 to provide financing to start-ups and artificial intelligence.
The Bengaluru-based firm Infosys has invested in US-based firms like TidalScale, Danish artificial intelligence start-up UNSILO and Stellaris Venture Partners.