Infosys invests Rs14.5 crore in Danish artificial intelligence start-up1 min read . Updated: 19 Nov 2016, 11:17 PM IST
This is Infosys's 11th investment in a start-up from its $500 million innovation fund
Bengaluru: Infosys Ltd has invested 14.92 millon Danish krone (Rs14.5 crore) from its “innovation fund" in UNSILO, a Danish artificial intelligence start-up focused on advanced text analysis.
The deal comes at a time when companies around the globe, including Infosys clients, are trying to find better ways to make sense of a large amount of unstructured text.
UNSILO uses a unique combination of machine-learning and natural language processing to analyse large quantities of text. This is Infosys’s 11th investment in a start-up from its $500 million innovation fund, its fourth in the calendar year.
Indian IT firms have been increasingly investing in futuristic start-ups to get products based on new technologies faster to the market and serve the emerging needs of their customers.
“UNSILO has built an impressive semantic search engine with best-in-class text intelligence, which powers a range of advanced business processes. We will partner with UNSILO to bring their artificial intelligence and machine learning technology to our global clients," Ritika Suri, executive vice-president and global head of corporate development and ventures at Infosys, said in a statement on Friday.
The deal will give UNSILO a chance to expand globally faster and enter new industries, according to Thomas Laursen, chief executive officer of UNSILO. “Making sense of any large amount of unstructured text is a huge challenge for many industries," Laursen said.