Infosys on Tuesday said it has written off $4.5 million it had invested in WaterLine Data Science, a US startup. Infosys had made these investments through its innovation fund in two tranches in 2016 and 2018.
In January, Hitachi Vantara had announced that it intends to buy Waterline. Infosys in a regulatory filing said that it informs that Waterline Data has completed the process of dissolution.
“There is nil consideration upon dissolution and accordingly there are no dues outstanding to the company,” it said.
Waterline, founded in 2013, offers data discovery and data governance software. It provides data scientists and business analysts a self-service data catalog to help discover and understand data.
The $500 million innovation fund has backed around 10 startups and invested in two venture capital firms Vertex Ventures and Stellaris Venture Partners.
Source: Economic Times
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