Hyderabad, Feb 26 (UNI) Wipro Limited, a leading technology services and consulting company, on Wednesday announced that it will be committing $200 million to its venture arm, Wipro Ventures, in its latest round of funding.
This is the fourth round of funding 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, the company said in a release.
“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. ‘
He emphasized “This latest investment reaffirms our commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises.”
Jay Leek, Co-Founder & General Partner, SYN Ventures, said, “We strongly believe that the value-add that Wipro brings will enable startups to maintain their competitive edge and enjoy long-term success.”
Since its inception in 2015, 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.
In addition to making direct equity investments, Wipro Ventures has also invested in several early-stage, enterprise-focused and cybersecurity-themed venture funds in India, the US, and Israel.
