January 2016, Business
Outsourcing company Infosys has invested $4 million (Rs.27 crore) in California-based Waterline Data Science, a startup, which provides software to help users mine hidden insights from large chunks of data.
This is the seventh investment for India’s second-largest software exporter from its $500 million (Rs.3,403 crore) innovation fund.
“We see a need for automated data discovery solutions like Waterline Data Science in helping our clients achieve greater business value from their big data assets,”said Ritika Suri, Senior Vice-President of corporate development at Infosys in a statement. “This investment underscores our commitment to our clients to bring innovative data science solutions across our platforms and offerings.”
Some of Infosys’ customers include pharma company GlaxoSmithKline, car maker Honda, Bell Helicopter and Kraft Foods Group.
Waterline provides software that helps users make more sense of data stored inside Hadoop, the big data software store. Experts say that Hadoop contains large amounts of data at lower cost, but it is not easy to get that data. Waterline which derives its name from the metaphor of the ‘data lake’ where the data is hidden below the waterline, solves this problem with its software.
This way it helps data engineers and data scientists find the best suited and most trusted data without coding and manual exploration.