Wipro commits $200 mn to venture arm Wipro Ventures
3 weeks, 2 days ago

Wipro commits $200 mn to venture arm Wipro Ventures

The Hindu  

Wipro Limited, a technology services and consulting company, on Wednesday said it would be committing $200 million to its venture arm, Wipro Ventures, in its latest round of funding. This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early- to mid-stage startups, as per a company communique. Srini Pallia, CEO & MD of Wipro, said this investment reaffirmed Wipro’s commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises. “Wipro Ventures is strategically positioned to participate in and contribute to technological innovation across start-up hubs globally,” Mr. Pallia said.

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History of this topic

Wipro’s latest big bet on startups! Wipro Ventres raises nearly ₹1,740 crore in fourth round of fundraise
3 weeks, 2 days ago

Wipro’s latest big bet on startups! Wipro Ventres raises nearly ₹1,740 crore in fourth round of fundraise

Live Mint  

IT major Wipro on Wednesday said it will invest USD 200 million in its arm Wipro Ventures to accelerate its funding for startups in the technology innovation space. This marks the fourth funding round for Wipro Ventures since it began operations ten years ago, and is aimed at speeding up investments in startups at the early to mid-stage level, a …

AI startup funding hit a record in the L.A. area last quarter. Here’s who got the most money
4 months, 2 weeks ago

AI startup funding hit a record in the L.A. area last quarter. Here’s who got the most money

LA Times  

Anduril Industries co-founder Palmer Luckey is shown at the company’s Costa Mesa office last year. The region broke a record in the third quarter, capturing $1.8 billion in venture capital investment for AI startups with a total of 31 deals, according to a new report by research firm CB Insights. Anduril, which manufactures autonomous weapons systems, including submarine drones, has …

Cyber security startup Wiz reportedly rejects $23 billion acquisition proposal from Google
7 months, 3 weeks ago

Cyber security startup Wiz reportedly rejects $23 billion acquisition proposal from Google

Associated Press  

NEW YORK — Wiz has rejected a reported $23 billion acquisition proposal from Google parent Alphabet — as the cybersecurity startup pivots back to a previously-planned initial public offering, according to a company memo seen by CNBC and others. In a Monday memo to Wiz employees, as reported by CNBC, CEO Assaf Rappaport noted “saying no to such humbling offers …

Wipro investors and their many worries
1 year, 8 months ago

Wipro investors and their many worries

Live Mint  

The June quarter earnings season began on a sombre note with large-caps Tata Consultancy Services Ltd and HCL Technologies Ltd reporting subdued numbers. “Wipro’s growth underperformance to peers is due to the higher mix of consulting services and steeper impact from discretionary projects in BFSI and Telecom verticals," pointed out a HDFC Securities Ltd report. To its credit, Wipro’s seemingly …

Artificial Intelligence game to strategic investments: Key things that Wipro's chairman Rishad Premji said in 77th AGM
1 year, 8 months ago

Artificial Intelligence game to strategic investments: Key things that Wipro's chairman Rishad Premji said in 77th AGM

Live Mint  

Wipro's chairman, Rishad Premji, highlighted the company's investment in AI and its plans to integrate AI into all platforms and solutions, while also emphasizing the importance of strong governance. IT giant Wipro's chairman Rishad Premji said, the company is excited about the possibilities that AI brings and has been investing ahead of the curve to understand and leverage its power …

Wipro to invest $1 bn in AI over three years
1 year, 8 months ago

Wipro to invest $1 bn in AI over three years

Live Mint  

IT services firm Wipro Ltd will invest $1 billion in artificial intelligence over the next three years. The company has also launched a service—Wipro ai360, an AI-first innovation ecosystem, and said it would train all of its about 250,000 employees on AI over the next 12 months. The announcement comes almost a week after rival Tata Consultancy Services said it …

Four top exits in a month shake Wipro
2 years, 6 months ago

Four top exits in a month shake Wipro

Live Mint  

BENGALURU : At Wipro Ltd, chief executive Thierry Delaporte is battling to build a stable leadership team amid concerns of sputtering growth and declining profitability, leading many to question if last year’s industry-leading growth was just a flash in the pan. At least four senior executives overseeing business in four countries have left Wipro in the last month, even as …

Wipro posts upbeat Q2 guidance at 3-5%; Q1 net profit down 21%
2 years, 8 months ago

Wipro posts upbeat Q2 guidance at 3-5%; Q1 net profit down 21%

Live Mint  

Wipro Ltd expects revenue for the quarter ended September to be in the range of $2.81-2.87 billion, translating to a sequential growth of 3-5%, faster than the 1-3% it had forecast for the June quarter. The company’s net profit for the June quarter declined 20.7% to ₹2,563 crore from ₹3,232 crore in the year-ago period because of a higher base …

Wipro Q4 Results: Net Profit Rises 3.9% YoY to Rs 3,090 Crore; Revenue Up 28.5%
2 years, 10 months ago

Wipro Q4 Results: Net Profit Rises 3.9% YoY to Rs 3,090 Crore; Revenue Up 28.5%

News 18  

IT major Wipro on Friday reported a 3.9 per cent year-on-year jump in its net profit to Rs 3,090 crore for the March 2022 quarter. For the full financial year, Wipro’s net profit stood at Rs 12,220 crore in 2021-22, a jump of 13.2 per cent as compared to the previous year. Wipro CEO and Managing Director Thierry Delaporte said, …

Wipro Q1 Net Profit Up 35.6% at Rs 3,242.6 Cr, Expects 5-7% Sequential Growth in Next Qtr
3 years, 8 months ago

Wipro Q1 Net Profit Up 35.6% at Rs 3,242.6 Cr, Expects 5-7% Sequential Growth in Next Qtr

News 18  

IT major Wipro on Thursday reported a 35.6 per cent jump in consolidated net profit to Rs 3,242.6 crore for the June 2021 quarter. Its revenue from operations increased by 22.3 per cent to Rs 18,252.4 crore in the reported quarter from Rs 14,913.1 crore in the same period last fiscal, Wipro said in a regulatory filing. Wipro’s IT services …

Wipro shares jump nearly 10% after Q4 earnings
3 years, 11 months ago

Wipro shares jump nearly 10% after Q4 earnings

India TV News  

Shares of Wipro zoomed nearly 10 percent in morning trade on Friday after the company posted a 27.7 percent jump in consolidated net profit at Rs 2,972 crore for the March 2021 quarter, and exuded confidence of sustaining strong growth momentum in the coming quarters. Its revenue from operations rose by 3.4 percent to Rs 16,245.4 crore in the reported …

Coronavirus Outbreak: Wipro, Azim Premji Foundation commit Rs 1,125 cr to tackle COVID-19 crisis
4 years, 11 months ago

Coronavirus Outbreak: Wipro, Azim Premji Foundation commit Rs 1,125 cr to tackle COVID-19 crisis

Firstpost  

Wipro Ltd, Wipro Enterprises Ltd and Azim Premji Foundation have together committed Rs 1,125 crore towards tackling the unprecedented health and humanitarian crisis arising from the COVID-19 outbreak in the country New Delhi: Wipro Ltd, Wipro Enterprises Ltd and Azim Premji Foundation have together committed Rs 1,125 crore towards tackling the unprecedented health and humanitarian crisis arising from the COVID-19 …

Wipro bags $300 mn contract from ICICI Bank
5 years, 6 months ago

Wipro bags $300 mn contract from ICICI Bank

The Hindu  

In one of the sizable domestic deals, digital transformation and IT services major Wipro Limited has bagged a strategic contract valued at $300 million from the ICICI Bank. Under the contract, Wipro will offer a comprehensive suite of services to ICICI Bank for the next seven years, starting September 2019. As part of this strategic engagement, Wipro will absorb about …

Wipro shares gain over 1% post as company posts 38.4% rise in net profit for March 2019 quarter
5 years, 11 months ago

Wipro shares gain over 1% post as company posts 38.4% rise in net profit for March 2019 quarter

Firstpost  

The scrip gained 1.32 percent to close at Rs 284.80 on the BSE. New Delhi: Shares of Wipro rose over 1 percent Thursday after the company posted 38.4 percent rise in net profit for March 2019 quarter and wooed shareholders with up to Rs 10,500 crore buyback plan. Software major Wipro Tuesday posted 38.4 percent rise in net profit at …

Wipro Ventures invests in 18 early and mid-stage startups since inception in 2015
6 years, 1 month ago

Wipro Ventures invests in 18 early and mid-stage startups since inception in 2015

Firstpost  

Wipro Ventures has deployed more than two-thirds of its corpus in 18 startups, according to media reports. The $100 million Wipro Ventures is the strategic investment arm of Wipro and focuses on investing in early-to-mid-stage startups. It has helped its parent Wipro win over 100 deals – 14 in the US, three in Israel and one in Pune-based data startup …

Health-tech startup funding hits all-time high of $510 million in 2018
6 years, 4 months ago

Health-tech startup funding hits all-time high of $510 million in 2018

Live Mint  

Mumbai: Venture capital investment in home-grown health-tech startups in 2018 is at an all-time high with continuing investor interest, data from Tracxn Technologies shows. So far, $510 million has been invested across 80 health-tech startups, led by medicine ordering website PharmEasy, which raised $115 million across three rounds this year. Demonetisation and the subsequent surge in digital payments also helped …

Wipro shares jump over 8% as company bags biggest order till date for $1.5 bn from Alight Solutions
6 years, 6 months ago

Wipro shares jump over 8% as company bags biggest order till date for $1.5 bn from Alight Solutions

Firstpost  

New Delhi: Shares of Wipro on Monday surged more than 8 percent in morning trade on bourses after the IT services major said it had bagged $1.5 bn deal from Alight Solutions, its biggest deal till date. Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that provides technology-enabled health, …

Wipro wins $1 billion IT deal from Alight Solutions
6 years, 7 months ago

Wipro wins $1 billion IT deal from Alight Solutions

Live Mint  

Bengaluru: Wipro Ltd has won a $1 billion contract, the biggest such order in four years, from Alight Solutions, the former benefits administration and human-resources outsourcing business of Aon Plc, according to two people familiar with the development. Starting next year, Wipro is assured of at least $140 million in revenue, a shot in the arm for Abidali Neemuchwala, who …

Wipro sees strong demand for services from BFSI segment; faces challenges in domestic biz, US healthcare
6 years, 8 months ago

Wipro sees strong demand for services from BFSI segment; faces challenges in domestic biz, US healthcare

Firstpost  

Bengaluru-based Wipro said it expected revenue form its key IT services business for the quarter ending September to be in the range of $2.01 billion to $2.05 billion. Mumbai/Bengaluru: IT company Wipro Ltd said it was seeing strong demand for its services from clients in banking, financial services and insurance, while it faces challenges in its India business and in …

Wipro beats estimates, Q1 net profit rises 11% to $307.55 million
6 years, 8 months ago

Wipro beats estimates, Q1 net profit rises 11% to $307.55 million

Live Mint  

Bengaluru: Wipro Ltd on Friday reported first-quarter earnings that beat analysts expectations, as net profit rose 11% to $307.55 million from $277 million in the preceding three months, primarily on account of gains made from divestment of one of its businesses. Bengaluru-based Wipro’s dollar revenue declined 1.7% to $2.03 billion in the quarter ended 30 June from the preceding three …

Cloud computing firm Salesforce to invest $50 million in startups employing artificial intelligence
7 years, 6 months ago

Cloud computing firm Salesforce to invest $50 million in startups employing artificial intelligence

Firstpost  

The venture wing of Salesforce.com is launching a $50 million fund to invest in start-ups employing artificial intelligence, the cloud computing firm said. The venture wing of Salesforce.com Inc is launching a $50 million fund to invest in startups employing artificial intelligence, the cloud computing firm told Reuters on Tuesday. Salesforce, whose software helps businesses sell, market and track customer …

Wipro board okays Rs 11,000-crore buyback
7 years, 8 months ago

Wipro board okays Rs 11,000-crore buyback

Deccan Chronicle  

Bengaluru: India’s third largest software services company Wipro on Thursday announced that the board of directors has approved a proposal to buyback shares worth Rs 11,000 crore at a price of Rs 320 per share. Speaking about the announcement of buyback of equity shares, Wipro CFO Jatin Dalal said that the announcement to buyback equity shares was a part of …

Cyber security firm Trend Micro has launched a $100 million venture fund to explore technology market
7 years, 8 months ago

Cyber security firm Trend Micro has launched a $100 million venture fund to explore technology market

Firstpost  

With an initial investment of $100 million, this venture fund will allow the cyber security firm to nurture a portfolio of startups. Tokyo-headquartered cyber security major Trend Micro Incorporated on 27 June announced the launch of a corporate venture fund to explore emerging technology markets. With an initial investment of $100 million, this venture fund will allow Trend Micro to …

Wipro Q3 net beats analysts forecast, but margins take a hit due to Chennai floods
9 years, 2 months ago

Wipro Q3 net beats analysts forecast, but margins take a hit due to Chennai floods

Firstpost  

Analysts polled by Thomson Reuters estimated net profit in the quarter at Rs 2,223 crore Wipro, the Bangalore-headquartered country’s third largest software exporter, posted 1.8 percent rise in its consolidated net profit, beating analysts forecast, to Rs 2,234.1 crore for the quarter ended December 31, 2015. Analysts polled by Thomson Reuters estimated net profit in the quarter at Rs 2,223 …

Wipro invests $5 million in cloud solutions firm | IndiaTV News
10 years ago

Wipro invests $5 million in cloud solutions firm | IndiaTV News

India TV News  

Bengaluru: IT bellwether Wipro has invested $5 million to pick a minority stake in Drivestream Inc., a US-based leading Oracle cloud applications systems integrator, with development centre in Chennai. "As a strategic partner in Drivestream, we will build an integrated cloud solutions stack for our customers," Wipro said in a statement on Wednesday from Virginia, US, where Drivestream is headquartered. …

Wipro To Acquire Citigroup's Indian IT Subsidiary – Firstpost
16 years, 2 months ago

Wipro To Acquire Citigroup's Indian IT Subsidiary – Firstpost

Firstpost  

Wipro and Citi are expected to sign a Master Services Agreement for delivery of technology infrastructure services and application development and maintenance services for six years. IT bellwether Wipro Technologies has announced acquisition of Citi Technology Services, the India-based captive provider of IT services and solutions to Citigroup entities worldwide, for $127 million in an all-cash deal. As part of …

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