Wipro invests $24.5 Million in 9 Startups over 2 years

According to a recent filing by US Securities Exchange Committee, Wipro has emptied its quarter of it’s $100 Million funds by investing in 9 startups from 2015-2017.

Wipro said in its 20-F filing to US SEC, “Currently we hold 9 such investments with a cumulative spend of $ 24.5 million in startups working in big data and analytics, AI, IoT, mobility, supplier collaboration platform, fintech, and security -technologies that are reshaping the future of enterprises.”

In competition with its fellow rival Infosys, which has spent about $45 million from it’s $500 million funds, while also has uncalled capital commitments of $18 million, as disclosed in its annual report.

Premji is the only executive eligible for such a commission structure; the other Wipro executives are given variable compensation. Premji earned a little over $108,000 in FY17, a more than 60% fall from the previous financial year. The compensation excludes deferred compensation.

The startups which got invested by Wipro are:

Vectra Networks: Vectra Networks is a patent-pending X-series security platform that instantly identifies cyber-attacks while they are happening.

Emailage: Emailage provides transactional risk assessment by assessing and scoring email data for organizations around the world.

Altizon System: Altizon is a family of sensor data appliances and SDKs that drive data from sensors in Industrial Equipment to flagship Datonis™ platform.

Avaamo: Avaamo reinvents the way communicate, transact and get work done in today’s mobile-first world.

Intsights: INTSIGHTS is an intelligence-driven security provider, established to meet the growing need for rapid, accurate cyber intelligence and incident mitigation.

Talena: Talena has embarked on building the next-generation data management platform that will disrupt the big data and storage industry.

TradeShift: Tradeshift is a global network and platform that helps companies innovate the way they buy, pay and work together.

Wipro CEO Abidali Neemuchwala drew a little over $2 million in FY17, constituting of $800,000 in salary and allowance, variable pay of $150,244 and other compensation of $1.1million, along with over $9000 in deferred benefits. Read more about Indian Startup Ecosystem.

Wipro invests $24.5 Million in 9 Startups over 2 years
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