Days after Wipro announced buying the Israeli aerospace firm H.R. Givon, Bangalore based sofware exporter Infosys has funded a cloud computing startup out of Israel with presence in the US called Cloudyn, picking up a minority stake in the firm for $4 million. However, the company did not disclose itsstake holding percentage in the five year old Israeli startup.
Cloudyn monitors and optimises the clouddeployments of several Fortune 500 companies, and already boasts of having companies like the Israel based Carmel Ventures and Titanium Investments as existing investors. The company had raised around$16.5 million in earlier rounds before the Infosys deal. Both Wipro and Infosys’s interest in Israel’s next generation technology points at the rising globalimportance of Israel in the enterprise technology sector. In fact, Infosys had acquired the Israel based software as service company Panaya in 2015 for a sum of $200 million.
Israel is widely being regarded as one of the world’s most fertile and rapidly growing startup ecosystems. Startup Genome ranks Tel Aviv as the world’s fifth best startup ecosystem in the world, coming after Silicon Valley, New York City, Los Angeles and Boston. Infosys commented about their interest inthe Israel-based companyin a report:
“Cloudyn enables enterprises to manage and optimase their hybrid , multi-cloud deployments. The solution provides visibility into usage, performance and cost, coupled with actionable recommendations for confident cloud growth.” The dealis expected to be completedon August 15, according to the same report.
Besides companies like Panaya and Cloudyn, Infosys is also in talks of investing around $15 million in an Indian venture capital fund, Stellaris Venture Partners. Over the past year and a half, Infosys has invested in quite a few early-stage startups like Triifacta, Waterline Data, CloudEndure, and Airviz Speck, spending around $43 million. Since Vishal Sikka stepped in as the CEO of Infosys, the company has been attempting to increase growth in the company’s traditional outsourcing business, as well as acting on their interest in newer areas of technology.
Since then, the company has invested in eight startups and made three major acquisitions internationally.