Infosys Ltd has bought a minority stake in Delaware, US-based start-up Whoop, which makes activity trackers, for $3 million, the software services firm said on Monday (14 December).
Infosys said that the all-cash Series B investment in Whoop is expected to be completed by December 16.
This was the company's sixth such investment in early-stage firms over the past year since it increased the size of its start-up investment fund to $500 million in January.
Prior to this, Infosys has invested in five other start-ups over the course of the past 12 months; most of them were US-based such as Airviz Speck, Bangalore-based ANSR Consulting, Vertex Ventures, Nova and CloudEndure.
With the latest investment, Infosys has spent about $25.4 million from its $500-million fund to pick up stakes in five startups, besides an undisclosed amount in Vertex Ventures.
Whoop, which sells devices worn by athletes to monitor heart rate, sleep patterns and other data, was founded in 2012 by Harvard College Scholar and Captain of the Harvard Men's University Squash Team Will Ahmed. He was later joined by fellow Harvard scholars and co-founders John Capodilupo and Aurelian Nicolae.
Apart from this latest round of funding, the company has raised $21.75 million in four rounds, according to CrunchBase.
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Haider Ali Khan is an alumnus of IIMC. He holds a degree in English Journalism from the prestigious campus. His passion includes Aviation, Technology, Politics and Sports.
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