Business Enterprise IT & Web-tech News Start-ups outside India Startups

Wipro puts in money into Israeli VC firm

Marking yet another instance of an Indian firm investing abroad, software major Wipro has participated in funding Israel-based venture capital firm TLV Partners. The investment isn’t really particularly recent, but its only now that it has been disclosed by the company.

The information comes from Wipro’s latest annual report where the company made public its Israeli investment which is supposed to have occurred somewhere between 2015-2016, although the exact time wasn’t mentioned.

Do note though, that apart from the fact that an Indian software major has put money into an Israeli VC firm, whats should also be taken cognizance of, is the fact that Israel has a robust, tech-focused startup ecosystem, drawing everyone to the likes of Google, Microsoft and others into investing.

A brief introduction of TLV ventures is perhaps in order. The Tel Aviv based firm TLV Partners is a Venture Capital firm dedicated to investing in innovative A-round startups. The firm invests in cutting edge technologies including Cyber Security, Enterprise Software, B2B, Internet of Things, fintech and so on. It operates with a fund that at present stands in the neighbourhood of $115 million.

The firm was founded only last year and has made three investments so far which include Virtual container security startup Aqua and Facebook ads analytics company Oribi. More importantly, the firm helps Israeli startups connect with their peers in the sillicon valley, leading to collaborations and even acquisition possibilities for the startups.

Chipping in money into TLV will let Wipro have access to the Israeli startup landscape, which at present is rich with startups working upon advance technologies. The money for the investment came through Wipro Ventures — the $100 million venture arm of the Wipro group.

Speaking on the topic, a Wipro spokesperson said,

The potential areas of engagement are enterprise software and security. We will engage with these companies based on the level of maturity of the solution and the specific needs of our clients

Wipro has so far invested in four US startups, namely Vicarious, Vectra Networks, Emailage Corp and Talena Inc. However, this is its first venture in Israel which has of late, been gaining a lot of attention from VC firms and tech behemoths.

Meanwhile, Wipro is not the only Indian company to have come upon the bright idea of using upcoming VC firms as a doorway to other startups and  new age technology. Rival Infosys also has an arm with a $500 million venture corpus, which has been busy investing in companies across the world — including an undisclosed amount in Silicon Valley-based Vertex Ventures.

A bibliophile and a business enthusiast.

[email protected]

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *


Be a part of a thriving community of core-tech, no-nonsense readership in India. Subscribe to our post-by-post updates, right here.