Bengaluru, February 26 – Wipro, a leading IT services company, has announced a $200 million commitment to its venture arm, Wipro Ventures. This marks the fourth round of funding for Wipro Ventures since its inception ten years ago, with the aim of boosting 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,” stated Srini Pallia, Chief Executive Officer and Managing Director of Wipro Limited. He further emphasized the vision of “a collaborative ecosystem where these emerging technologies can be deployed globally, drive progress, and create sustainable value for all stakeholders involved.”
Wipro Ventures was established in 2015 with the core mission of identifying and investing in high-potential early-stage startups. These companies are at the leading edge of technological innovation and allow Wipro to deliver unique value to its clients. The Wipro Ventures team connects Wipro and its clients to a global ecosystem of innovative startups, enabling Wipro’s clients to access the latest advancements while giving startups access to a global network of enterprise customers.
Over the past decade, Wipro Ventures has invested in 37 startups across various sectors, including artificial intelligence, data and analytics, cybersecurity, and cloud infrastructure. The solutions developed by these startups have been deployed across more than 250 Wipro customers worldwide, resulting in 12 successful exits.
Beyond 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.
Jay Leek, Co-founder and General Partner at SYN Ventures, expressed enthusiasm about the partnership. “We are delighted to have worked with Wipro Ventures as co-investors over the years,” he said. “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.”
