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Wipro Ventures invests undisclosed sum in Israel-based TLV Partners

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Wipro Ventures invests undisclosed sum in Israel-based TLV Partners

Wipro Ventures, the venture wing of Wipro Ltd has made its first investment in a venture capital firm by investing an undisclosed sum in Israel-based TLV Partners.

The deal will give Wipro the advantage of accessing newer technologies from startups and take it to their clients in enterprise software and security. It is also in keeping with the company’s objective of creating strong solutions practices when it comes to cyber security where it has already invested twice before. Wipro has made mall scale investments in startups such as Vectra Networks and Arizona based Emailage Corp that focus on fraud prevention and cyber security.

Through this deal and a few others, companies such as Wipro and Infosys are veering away from the traditional approach and looking at ways to tap the new technologies from small startups. In order to retain their position in the outsourcing sector these companies are picking stakes in small startups that focus on disruptive technologies, including artificial intelligence and cloud computing, which they can then take to their clients. The new technologies are not only cheap but also time and effort efficient alternatives to the existing technological models at work.

Tel Aviv-based TLV Partners was set up by Eitan Bek and Rona Segev in July last year with an initial corpus of $50 million.

Source: Mint

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