Wipro Ventures, the venture arm of the global IT services giant Wipro, has announced a new 200 million USD commitment, its the fourth round of capital since the program's funding ten years ago.
“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,” said Wipro’s Chief Executive Officer & Managing Director, Srini Pallia.
Wipro Ventures was founded in 2015 with the intention of identifying and providing funding to high-potential, early-stage companies that are at the top of technical innovation. In actuality, this strategy has enabled Wipro to use the newest technologies from these entrepreneurs to offer its clients unique value.
The Wipro venture function connects with the worldwide ecosystem of startups focusing on AI, data & analytics, cybersecurity, and cloud infrastructure. The partnership assists startups in reaching enterprises' global networks and ensuring that technology disruption never affects Wipro's clients.
SYN Ventures, a co-investor of Wipro Ventures, thinks the company is in a good position to profit from new developments in the market. “We strongly believe that the value-add that Wipro brings will enable startups to maintain their competitive edge and enjoy long-term success,” said Jay Leek, Co-Founder & General Partner, SYN Ventures.
With 37 startup investments over the last ten years, Wipro Ventures has implemented cutting-edge solutions for 250 Wipro clients globally. Furthermore, the venture arm has an excellent track record in the startup business thanks to 12 successful exits.
Wipro Ventures has also funded several early-stage enterprise and cybersecurity-themed venture funds in key markets, such as India, the US, and Israel. This enables Wipro to better identify and support promising startups that fit into its vision of technological evolution.
