An announcement by Infosys MD and CEO Vishal Sikka has revealed that the tech giant has invested close to $15 million (Rs 94 crore approximately) in a DreamWorks Animation (DWA) spin-off. Currently, Infosys is the only investor in the yet unnamed company.
Vishal was speaking at the Goldman Sachs Technology and Internet Conference held at San Francisco on Tuesday wherein he said that the spin-off company had recently brought its amazing animation technology to industries like retail. Last year, Infosys had set up a $500 million innovation fund dedicated to start-ups and emerging technologies.
A report by Business Standard states that the spin-off was a startup venture that develops collaboration tools and technologies. Infosys CFO UB Pravin Rao had stated that the company was in discussions with DWA to take some of its technologies to global clients.
According to the report, Infosys was working with Clique Intelligence (CI),which is backed by DWA and HP to commercialise its collaboration tools that delves in using half a billion files to put together an animated movie.
CI is a software, where on its website it says: ‘CI provides a centralised enterprise ecosystem for people to work and collaborate within and across organisations’. Last year the company also received a cumulative funding of $5 million from both DWA and HP.