Wipro has announced a commitment of $200 million to its venture arm, Wipro Ventures, in its latest round of funding. This is the fourth round raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early to mid-stage startups.
“Wipro Ventures is strategically positioned to participate in and contribute to technological innovation across startup hubs globally,” said Srini Pallia, Chief Executive Officer & Managing Director, Wipro Limited. “This latest investment reaffirms 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 involved.”
According to the company, Wipro Ventures was founded in 2015 to identify and invest in high-potential early-stage startups at the forefront of technological innovation and that allow Wipro to deliver differentiated value to clients. The Wipro Ventures team said it connects Wipro and its clients to a global ecosystem of startups working on disruptive technologies, enabling clients to access the latest innovations while providing startups with access to a global network of enterprise customers.
Jay Leek, Co-Founder & General Partner, of SYN Ventures, said, “We are delighted to have worked with Wipro Ventures as co-investors over the years. They are well-positioned to capitalize on emerging trends in the industry. We strongly believe that the value-add that Wipro brings will enable startups to maintain their competitive edge and enjoy long-term success.”
In its 10 years of operation, Wipro Ventures has invested in 37 startups in areas such as artificial intelligence, data & analytics, cybersecurity, and cloud infrastructure, deployed solutions across 250+ Wipro customers globally, and had 12 successful exits.
Aside from making direct equity investments, Wipro Ventures said it has also invested in several early-stage, enterprise-focused, and cybersecurity-themed venture funds in India, the US, and Israel.