Wipro invests in two start-ups

Wipro invests in two start-ups

 India's third largest software services firm Wipro on Wednesday announced that it has invested in two technology start-ups, its executive director & CEO (for IT business) T K Kurien said here.

Kurien said the company has invested $19 million in the two companies. He was speaking at the three-day flagship event of industry body Nasscom which started here on Wednesday. “There is innovation capability lying outside the organisation and so there is need to invest in the same,” he added.

Even as details on the names or business of these companies were not forthcoming, Wipro's investment stance reflected the IT industry's need in general to push the innovation agenda.

Kurien said he expects next fiscal to be better than the current fiscal, though hiring will not keep pace with growth as the industry tries to delink revenues from headcount.

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