IT major Infosys has invested USD 3 million in US-based wearable device startup firm WHOOP to pick up a minority shareholding in the company.
In a regulatory filing, Infosys said it "has made an investment of USD 3 million (about Rs 20 crore) in WHOOP, an early stage company offering performance optimisation system for elite professional sports teams."
Infosys said with through this transaction it will acquire "minority shareholding, not exceeding 20 per cent of the outstanding shareholding of the company."
Infosys said WHOOP's system includes a device worn by athletes on their wrist that continuously measures key strain and recovery variables and actionable analytics powered by proprietary algorithms that generate intensity and recovery scores.
"This enables athletes and coaches to gain visibility into the drivers of high performance, guide training and make optimal game day decisions," it added.
The company said the transaction is expected to be completed by December 16.
Shares of Infosys were trading at Rs 1,063, up 1.01 per cent from previous close on BSE.
