Wipro invests $5 million in US-based start-up

| | Updated on: Mar 17, 2015

Wipro has invested $5 million in Drivestream, a US-based start-up company that integrates Oracle technology solutions.

This is part of Wipro’s strategy to drive innovation from external companies for which the company has set up Wipro Ventures, a $100 million fund whose focus is to invest in disruptive start-ups headed by Rishad Premji.

“This investment into Drivestream reflects Wipro’s continued commitment to help our customers adopt Oracle cloud applications,” said Bhanumurthy B.M., Chief Executive, Application Services and Strategic Alliances, Wipro who was elevated to the post of President.

Start-up companies developing software-as-a-service solutions around technologies like Oracle, SAP and others are increasingly finding favour with Indian system integrators. Typically, companies like Oracle and others sell their software to enterprise customers who then take the help of companies like Wipro to integrate with their business processes.

Recently, Infosys acquired Panaya, another company that provides cloud-based management solutions and helps them make redundant cloned programs, unused code and reduces code by 50 per cent for enterprise customers.

Infosys recently expanded its start-up fund to $500 million to provide financing to start-ups in exchange for giving it access to technologies such as Internet of Things, Artifical Intelligence and automation.

Published on March 17, 2015

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