Infosys invests $4 million in Israel-based startup Cloudyn

BENGALURU: Infosys has backed an Israel-based cloud computing startup by picking up a minority stake for $4 million (Rs 27 crore), at a time when chief executive Vishal Sikka is attempting to drive up growth in the company’s traditional outsourcing business, while also balancing futuristic bets on newer areas of technology.

Cloudyn, which monitors and optimises cloud deployments of top Fortune 500 companies, counts Israel-based Carmel Ventures and Titanium Investments among its existing investors. According to CrunchBase, Cloudyn had raised roughly $16.5 million in three rounds prior to the latest investment from Infosys.

The latest startup bet from Infosys highlights Israel’s growing importance in the space of enterprise technology. India’s largest software firms are scrambling to ensure that they do not miss out on the current wave of early-stage next-generation technology ideas from that country. Wipro is also making moves in Israel, which is widely regarded as one of the most fertile and innovative startup ecosystems.