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Infosys invests $3 million in wearables start-up Whoop

  • Infosys Ltd has
    bought a minority stake in Delaware,
    US-based start-up Whoop, which makes activity trackers, for $3 million, the
    Mint reported.
  •  
  • The deal, which marks
    the Indian company’s sixth investment from its $500 million innovation fund,

    • Infosys Ltd has
      bought a minority stake in Delaware,
      US-based start-up Whoop, which makes activity trackers, for $3 million, the
      Mint reported.
    •  
    • The deal, which marks
      the Indian company’s sixth investment from its $500 million innovation fund,
      could help drive revenues from its clients in the wellness space and
      professional sports.
    •  
    • The investment
      underscores the promise offered by new-age wearable technologies that have
      attracted companies ranging from Apple Inc. to Fitbit Inc.
    •  
    • Whoop sells devices
      worn by athletes to monitor heart rate, sleep patterns and other data.
    •  
    • Infosys said its
      investment allows it to have “a minority holding, not exceeding 20% of the
      outstanding share capital of the capital”, and it expects to close its
      investment by December 16.
    •  
    • The aggressive
      approach of partnering with start-ups focused on disruptive technologies
      underscores Infosys chief executive Vishal Sikka’s so-called ‘New and Renew’
      strategy to reinvigorate India’s
      second-largest software services company, the
      Mint report said.
    •  
    • Last week, Infosys
      invested in CloudEndure, an Israeli start-up that helps large companies move
      applications to cloud and cloud-based disaster recovery software.

     

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