Infosys backs Stellaris' debut India venture fund

The capital will come from Infosys' Innovation Fund, a captive early-stage investment vehicle that targets tech sector opportunities globally. While the fund typically backs start-ups at the Series A and B stages, it does also participate in funds as a third-party investor, including the US arm of Vertex Ventures.

Stellaris aims to back entrepreneurs building applications for global businesses, Indian small and medium-sized enterprises (SMEs), and consumers in verticals such as financial services, retail, healthcare and education. Infosys said in a statement that it sees the firm as a proxy for growth in areas such as cloud computing, the internet of things, artificial intelligence and big data.

The founding partners of Stellaris are Alok Goyal, Rahul Chowdhri and Ritesh Banglani, all of whom departed Helion at the end of last year. Previous investments include Taxisforsure, Bigbasket, Shopclues, Axtria, Lifecell and Simplilearn.

"We believe Stellaris with their extensive operational and domain expertise in enterprise software and services in both India and US, is uniquely positioned to leverage India's capital efficient talent pool, to harness the next wave of enterprise innovation in India. With this investment we look forward to gaining early access to innovative new companies in India that are inventing the future of enterprises globally," said Ritika Suri, executive vice president and global head of corporate development and ventures at Infosys.

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