Produced by: Tarun Mishra Designed by: Manoj Kumar
On September 19, Infosys revealed plans to invest up to ₹17 crore (approximately $2 million) in GalaxEye Space Solutions, marking its first move into the space technology sector. This investment comes through the Infosys Innovation Fund.
The deal, expected to be finalized by September 30, 2024, involves a combination of equity and Series A compulsory convertible preference shares, resulting in Infosys acquiring a minority stake in GalaxEye, not exceeding 20% of its share capital.
GalaxEye Space Solutions, incubated at IIT Madras and based in Bengaluru, specializes in multi-sensor satellite technology. Their platforms generate high-resolution, all-weather datasets for various sectors, including defence, logistics, agriculture, and disaster management.
Infosys also extended its strategic collaboration with Posti, a leading delivery and logistics provider in Finland, Sweden, and the Baltics. This partnership focuses on improving Posti’s customer experience and operational efficiency.
The Posti collaboration leverages Infosys Topaz, an AI-powered platform, and Infosys Cobalt, aimed at enhancing cloud capabilities and boosting operational productivity for the logistics company.
Petteri Naulapää, CIO at Posti, highlighted that the extended partnership with Infosys would help create a more customer-centric and efficient organization by utilizing AI and cloud technologies.
Karmesh Vaswani, Infosys EVP, emphasized the company's commitment to providing tailored next-generation services to clients in the Nordics, addressing unique challenges in retail, logistics, and other sectors.