Wipro to invest $200 million in Wipro Ventures

Bengaluru: IT major Wipro Ltd said on Wednesday that it will infuse $200 million into its investment arm, Wipro Ventures. This is the fourth round of funding raised by Wipro Ventures since its inception ten years ago, aimed at accelerating the parent 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 and Managing Director. 

Since its inception in 2015, Wipro Ventures has invested in 37 startups and achieved 12 successful exits, the company said in a statement. 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 United States, and Israel.

“We are delighted to have worked with Wipro Ventures as co-investors over the years. 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 and General Partner, SYN Ventures.

This comes at a time when the Karnataka government and the central government has given a huge push to startups with increase in funding and emerging sectors like deeptech, gaming and artificial intelligence (AI) taking up more space.