Monday, September 20

Infosys to invest extra $1 million

Infosys to Invest $1 million
Infosys to Invest $1 million

On Thursday, Infosys announced to invest $1 million(about 7.2 crores) in India’s largest drone operator company, IdeaForge Technology. Earlier, in 2016 Infosys confirmed investing in the Ideaforge’s startup project UAV (Unmanned Aerial Vehicles) solutions i.e., Drones. Infosys had invested 1.5 million in 2016 for their startup project and now agreed in investing 1 million. Ideaforge’s UAV or Drones rapid use has created a great demand and buzz of the new technology among the people, specially the youth which resulted in manufacturing of more and more drones and therefore, Infosys is ready to invest $1 million in Ideaforge.

Infosys is an IT services Indian multinational technology company which gives business consulting, information technology and outsourcing services. Infosys recognized that they are holding only 20 percent of the outstanding share capital of the company which is less than the half so the company thought of investing in the companies where they could invest and get great profits in the future.    

The purpose behind investing in them is business development and customer’s betterment. Even the customers of Infosys grasp UAV because of their attractive technologies and fast digitization.

Ideaforge was introduced in 2007 and is the largest manufacturer of Drones. It is well known for its ruggedness and exactness of UAV systems or drones. Drones are mostly used for surveillance, mapping and inspection. This decision of making investment in Ideaforge was taken after seeing the speedy growth and increasing interest of people in drones.

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