Infosys is investing INR 8.3 crore (almost $1 million) to acquire a minority share in healthtech firm 4baseCare.
Hitesh Goswami and Kshitij Rishi founded 4baseCare in 2018, which uses advanced genetics and next-generation digital health technology to provide patients with personalised oncology (cancer-related) care. The business claims to have created a unique set of comprehensive genetic panels that enable oncologists to select the best targeted medication for their patients.
In an exchange filing, Infosys stated that the acquisition will be carried out through its venture capital arm, Infosys Innovation Fund. In lieu of the investment, the Fund will acquire an undisclosed amount of the startup’s Series A compulsory convertible preference shares (CCPS).
“Infosys Innovation Fund seeks to partner with AI and deeptech startups such as 4baseCare to complement its capabilities and jointly co-create next-generation solutions bringing the power of innovation to help Infosys’ clients navigate their business transformation,” according to a filing with the SEC.