New Delhi, Feb 26: IT giant Wipro has announced a $200 million (approximately ₹1,740 crore) investment into its venture arm, Wipro Ventures, to accelerate funding for startups in the technology innovation sector.
This latest investment marks the fourth round of funding for Wipro Ventures since its inception a decade ago, with a strong focus on early to mid-stage startups. The company aims to enhance collaboration between startups and the IT services industry, driving innovation and value creation.
"This investment reaffirms our commitment to helping startups grow faster, innovate, and work collaboratively with the IT services industry to support large enterprises. We envision a dynamic ecosystem where these emerging technologies can be deployed globally to drive progress and create sustainable value," said Srini Pallia, CEO and MD of Wipro.
Founded in 2015, Wipro Ventures has been instrumental in identifying and investing in promising early-stage startups that drive technological advancements. It connects Wipro and its clients with a global network of startups working on disruptive technologies. It facilitates access to cutting-edge innovations for enterprises while providing startups with a vast customer base.
Over the past decade, Wipro Ventures has invested in 37 startups across key sectors such as artificial intelligence, data & analytics, cybersecurity, and cloud infrastructure. The venture arm has successfully deployed solutions across over 250 Wipro customers worldwide and has seen 12 successful exits.
Additionally, Wipro Ventures has extended its investments into multiple early-stage, enterprise-focused, and cybersecurity-themed venture funds across India, the US, and Israel, further strengthening its commitment to fostering global innovation in the technology sector.
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