Infosys Invests in Space Tech and Boosts Logistics Partnership

Infosys is a major IT firm that’s expanding into space technology and building its delivery work. What’s happening? The company stated it would invest up to Rs 17 crore, that is USD 2 million, in Galaxy Space Solutions, a space tech-only startup. The funds are part of the special fund set up by Infosys to implement new ideas.

GalaxEye is a startup company incubated at IIT Madras and currently located out of Bengaluru. They are designing advanced satellites that could capture pictures as well as collect data in all weathers. Such information becomes very handy for industries that pertain to defence, insurance, farming, etc.

Infosys will close this deal by 30 September 2024. Once the investment happens, Infosys shall have an interest lesser than 20% in GalaxEye.

Infosys Stock Performance

• Infosys stock price on September 19: ₹1,897.00 (up 0.26%)
• Company value: ₹7,87,659.95 crore
• Highest stock price in the last year: ₹1,975.75

Improved Logistics Partnership

Infosys also continues to work with Posti, which is a delivery service in Finland, Sweden, and other neighboring countries. They look forward to making the service of Posti better and more efficient with AI (artificial intelligence).

Infosys will use its AI tool Topaz and its cloud services Cobalt for helping Posti. In this respect, the work of Posti will be expedited, and how it serves the customers will also improve.

Petteri Naulapää of Posti said that they are delighted to be working with Infosys for the next seven years. According to him, Infosys’ AI and cloud tools will make his company better.

Karmesh Vaswani of Infosys said that they are always committed to giving special services to solve problems for their clients in Nordic countries.

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Why This Matters

These steps denote that Infosys is growing in various sectors :

1. They invest in this new exciting space tech field.

2. They improve their performance working with Posti, thus keeping their strength on logistics and delivery services.

Both these moves can well help Infosys reach the growing revenues and gains in the future.