Wipro shares in focus on Rs 1,740 crore investment plans in Wipro Ventures
Wipro will be in focus on Thursday after the company announced that it will invest USD 200 million (approximately Rs 1,740 crore) into its subsidiary, Wipro Ventures, to boost funding for startups in the technology innovation space.
This marks the fourth funding round for Wipro Ventures since its inception a decade ago, aimed at accelerating investments in early to mid-stage startups, according to a company statement.
Wipro CEO and MD, Srini Pallia, said, «This latest investment underscores our commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises. We envision a collaborative ecosystem where these emerging technologies can be deployed globally, drive progress, and create sustainable value for all stakeholders.»
Founded in 2015, Wipro Ventures focuses on identifying and investing in promising early-stage startups driving technological innovation. The Wipro Ventures team links Wipro and its clients to a global ecosystem of startups working on disruptive technologies, allowing Wipro’s clients to access the latest innovations while providing startups with access to a broad network of enterprise customers.
Over the past decade, Wipro Ventures has invested in 37 startups across sectors like artificial intelligence, data & analytics, cybersecurity, and cloud infrastructure, deploying solutions to more than 250 Wipro customers globally. The firm has also seen 12 successful exits.
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