Infosys Innovation Fund Invests in Air Quality Monitoring Pioneer, Airviz
Bangalore – April 24, 2015: Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced a definitive agreement for an early-stage investment of $ 2 million in Airviz to acquire a minority share. Airviz is a personal air quality monitoring startup and spinout from Carnegie Mellon University.
Earlier this year, Infosys had announced the creation of the USD 500 million Innovation Fund earmarked for investments in disruptive new technologies. This investment positions Infosys as a driving force in the fast-growing personal health monitoring market with a big data solution that provides indoor air pollution sensing and visualization.
Today, consumers in China and the United States spend more than USD 2 billion annually on residential air filters. However, these consumers have no means of measuring filter effectiveness and the resulting impact it might have on indoor air quality.
Airviz Speck, an affordable, fine particulate monitor, which uses patent-pending technology from Carnegie Mellon University, can empower individuals and communities to understand and identify health hazards related to air quality. In addition, big data visualization of historical data makes it easy for people to identify, analyze and measure issues affecting their personal air quality.
Commenting on the investment, Dr. Vishal Sikka, Chief Executive Officer, Infosys said, “This investment into Airviz reinforces our belief that the convergence of powerful new technologies and innovative ideas can greatly amplify our potential to enrich our lives, and put within our hands the power to create a better future for us all.”
Prof. Illah Nourbakhsh, Founder and Chief Executive Officer, Airviz said, “We are excited about this investment from the Infosys Innovation Fund. This will enable us to provide individuals with an affordable tool that makes the invisible visible, and enables consumers to make informed decisions about indoor air quality that can have a direct impact on personal health. Infosys’ global reach, service footprint and broad client base will be invaluable as we work towards delivering our compelling and ground-breaking technology to the market.”
The investment is expected to close before May 31, 2015, subject to customary closing conditions.