Wipro Ventures Invested INR 1,063 Crores in Startups
Wipro Ventures raised INR 1,063 Crores for its second fund as it planned to invest in more startup companies and venture capital. Wipro Ventures aims to connect emerging startups to potential customers. It is a leading technology company that is a part of Global 1000 enterprises and clients. Wipro Ventures used the first funding that they received in 2015 to invest in 16 startups and 5 Venture Capitals. These startups include both national and international companies located in different parts of the world, such as the USA and Israel.
The Managing Partner of Wipro Ventures, Biplab Adhya, said, “We are pleased with the traction these startups are showing and the value we have added to Wipro, and we look forward to continuing this journey. Wipro Ventures looks to be a long-term investor in a startup. In addition to often participating in a startup’s follow-on financial rounds, it tends to stay with a startup until its IPO. Wipro Ventures is now investing in six to eight startups each year.”
Established in 2015, Wipro Ventures is the investment branch of one of India’s largest companies, Wipro Limited. It is a unique company that helps budding startups create successful businesses by helping them with capital and funding. Wipro Ventures’ rich client base provides new startups with a chance to interact with customer enterprises and other potential investors. These early startups are provided with an ecosystem where they can learn and improve their business models and also interact with other startups funded by the investor company.
Founder of StartupLanes, Shishir Gupta says: Monetary capital forms the foundation of a startup. Entrepreneurship begins with an idea, and it becomes a startup when that idea is backed by investment. The role of investors is very vital in actualizing the dream of many startups. Wipro Ventures is doing an excellent job by investing in startups and giving their ideas a push. Congratulations to the Team and all of the startups receiving the funding.
Many countries are encouraging large companies to invest in budding startups to promote research and innovation. Israel is one such major country that is an investment hub for startups.