Infosys to invest $10 million in Irish start-ups

Bengaluru, July 3: Global software major Infosys Ltd on Friday announced it would invest $10 million (Rs.64 crore) in Ireland-based start-ups as it made a foray into the island-nation by winning a deal from Allied Irish Banks, plc. "The $10-million investment in Irish start-ups will be from our global innovation fund to leverage our strategic partnership with Allied Irish Banks, a leading financial services group," the company said in a statement here. The innovation fund, set up in 2013 with $100 million, was expanded to $500 million in January by its first non-founder chief executive Vishal Sikka to invest in software product start-ups worldwide, including India, which are working in disruptive technologies. "Investment in the Irish start-up community reflects our belief that Ireland is home to entrepreneurs who share our technology vision to drive growth," Infosys' financial services global head Mohit Joshi said in the statement.