Private Equity

Other Private Equity/Strategic Investments

HCL, Tech Mahindra to invest $2.5 M in US-based IaaS startup AustinGIS

BSE Disclosure   BSE Disclosure  

Publicly-listed HCL Technologies and Tech Mahindra are to invest USD 1.25 million each in Delaware, US entity AustinGIS, an IoT-as-a-service (IaaS) startup. While Noida-based HCL will buy 13.9% Series A dubbed preference shares of the company, Pune-based Tech Mahindra will pick up 13.8%. AustinGiS is a 5G services and IaaS provider incorporated in 2021, with a projected revenue of USD 28 million in CY 2021.