Wipro Ventures, the investment arm of Wipro, announced the closing of its $150 million Fund II.
Wipro Ventures will invest in early to mid-stage companies building innovative enterprise software solutions across key areas, including cybersecurity, application development, analytics, cloud infrastructure, test automation, and AI.
Wipro CEO Abidali Z Neemuchwala said: “Our strategy has been to invest in promising enterprise software startups, establish strategic partnerships with them and bring their leading-edge solutions to our customers.”
Wipro Ventures, managed by Biplab Adhya and Venu Pemmaraju, has so far invested in 16 early- to mid-stage startups, including 11 in the US, 4 in Israel and 1 in India. More than 100 of Wipro’s global customers have benefited by deploying solutions from these portfolio companies.
Companies within the portfolio have seen exits, including Demisto, a cybersecurity company that was acquired by Palo Alto Networks. Rishi Bhargava, a co-founder of Demisto, credited Wipro’s commitment to joint sales and go-to-market support, as one of the key drivers of its success.
Wipro Ventures has also invested in five early-stage enterprise focused venture funds in Israel, New York and Los Angeles.