IT Services Provider Wipro Invests $19 mn In Two Tech Startups

Global IT casework above Wipro Ltd has invested $19 actor in two bearding technology startups, according to its CEO TK Kurien.

“There is addition adequacy lying alfresco the organisation and so there is a charge to advance in the same,” Kurien said at a Nasscom conference. He did not allotment the name of the companies nor announce which area areas are they affianced in.

Last June, the close had invested $5 actor in US-based Axeda Corporation, a provider of cloud-based casework andcomputer application for managing affiliated articles and carrying machine-to-machine (M2M) applications. A few weeks afore this development, the aggregation appear $30 actor advance in Opera Solutions LLC, a abreast captivated and Fresh Jersey-headquartered Big Data analytics firm, for a boyhood stake.

It is not bright if Kurien was apropos to allotment payments for the advance in these two firms.

IT Services Provider Wipro Invests $19 mn In Two Tech Startups

Home-growncomputer application and IT casework firms accept been alive in abetment as able-bodied as accepting startups in India and abroad. Some of them accept additionally formed an centralized armamentarium to advance in assorted ventures.

A few months ago, Pune-based Persistent Systems Ltd launched Persistent Venture Fund, an aboriginal date armamentarium to accommodate berry basic to companies operating in social, mobile, analytics and billow accretion (SMAC). The armamentarium has already invested in US-based ustyme, a chargeless video alarm app for iPad.

Last September, NASDAQ-listed Indian internet and IT casework close Sify Technologies appear a Rs 150 crore armamentarium absorption on cloud, aegis and managed casework in India. Earlier, Infosys had said it was planning to set up an addition armamentarium account $100 actor to focus on fresh ideas, articles and platforms. The armamentarium will not alone focus on account advancing from aural the company, but will additionally be acclimated to armamentarium innovations advancing from alfresco the organisation.

In a abstracted development, Wipro administrator Azim Premji afresh led a $50 actor advance annular in affairs accoutrement e-tailer Myntra. Premji’s claimed advance agent has been actively abetment both aboriginal date ventures as able-bodied as almost complete firms beyond sectors for the aftermost few years.

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