Infosys has quit UNSILO, a Denmark AI-based solution company, after four years of acquisition. However, Infosys has not revealed the reason behind the exit. Infosys has sold its stake in UNSILO for Rs. 5.7 crores.
UNSILO is an artificial intelligence firm, which offers tools and solutions to publishers for advanced text analysis. UNSILO offers the automated process of comprehending unorganized text data and content making it easier for workers to understand databases across the industry.
UNSILO works with companies that provide information in research to make discoverability better across its scaffolds and internal publishing.
The Danish company works with information services companies in research to improve discoverability across their platforms and internal publishing operations. Infosys established an Innovation Fund in 2013 With a whopping total of $100 million for startups and other innovative ventures the company had planned to make. Interestingly, this fund swelled to $500 in January 2015.
Infosys invested in startups like Stellaris Venture Partners, UNSILO, Trifacta, Whoop, and TidalScale using the aforementioned fund, but now lists merely eight investment excluding UNSILO. The exit of a few of its founding members from the fund in 2018 at the time of the senior management shuffling following the resignation of the former CEO Vishal Sikka impacted its progress.
In 2019, Infosys collaborated with the House Fund II and planned to invest $10 million in AI-centered startup from the University of California.
Cactus Communications, a scientific communications company, has acquired UNSILO, which helps the publishers to get structured data, content, and Pubsure. Pubsure is a tool, which decreases the desk rejection and highlights the areas to improve before the manuscript is submitted.