India-based IT services company Infosys has made the first investments from its $100m innovation fund, investing in two US-based companies, Ooyala and Clique Intelligence, CEO Vishal Sikka has told Business Standard.
Sikka did not disclose the amount it had invested in each business, or the precise time the funding was provided. It launched the fund in April 2013.
Clique Intelligence develops business collaboration tools and according to an SEC filing, it had raised $5m of a $20m round as of May 2013. Its company directors at that time included executives from entertainment company Dreamworks and computer manufacturer HP.
Ooyala is a video analytics and monetisation services firm that was acquired by telecommunications company Telstra for $270m in May. Although it was not revealed at the time, Infosys is likely to have been one of the existing investors, which also included internet company Google, conglomerate Itochu and mobile device maker Motorola Mobility.