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Wipro to invest $200mn in venture arm to back startups

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BENGALURU: Wipro is investing $200 million in its venture arm, Wipro Ventures, in its latest round of funding. Wipro Ventures secured its fourth funding round after a decade of operations. The investment arm seeks to enhance its portfolio by investing in early to mid-stage startups.
“Wipro Ventures is strategically positioned to participate in and contribute to technological innovation across startup hubs globally,” said Wipro CEO and MD Srini Pallia. “This latest investment reaffirms our commitment to help 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.”
Since its inception in 2015, Wipro Ventures invested in 37 startups, deployed solutions across over 250 Wipro customers and has witnessed 12 exits.
In addition to direct equity investments in emerging startups, Wipro Ventures invested in 10 enterprise-focused venture funds: B Capital, Boldstart Ventures, Glilot Capital Partners, GTM Fund, Nexus Venture Partners, Pi Ventures, Sorenson Ventures, SYN Ventures, TLV Partners, and Work-Bench Ventures.
Last year, it invested in Kognitos, which uses Gen AI to automate business processes and drive productivity across large transformation engagements. Wipro Ventures focuses its investments on high-growth sectors, including financial services, healthcare, energy and utilities, alongside the manufacturing sector.

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