Thursday, April 18

Tag: Wipro Ventures

Pune based IoT platform Altizon raises $7 million funding
29Apr By NitishNo Comments
FUNDING

Pune based IoT platform Altizon raises $7 million funding

Altizon Inc, a global industrial IoT platform company addressing the manufacturing industries, today announced the closure of its series A+ funding round of $7Mn. This important round was led by TVS Motor Company (Singapore) Pte. Limited, the Singapore based Subsidiary of TVS Motor Company Limited and participated by existing investors The Hive, Wipro Ventures, and Lumis Partners. “The Industrial IoT market continues to expand at a rapid pace and this investment brings on board TVS Motor Company which is the flagship company of the multi-billion $ TVS Group, with deep experience building companies in the industrial sector,” said Vinay Nathan, CEO of Altizon. Vinay further added, “We have a strong roster of global industrial majors as our customers and they can now gain further benefit ...
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Wipro Invested $2 Million in AI Startup Avaamo Inc
17Mar By Sheldan RungasamyNo Comments
FUNDING

Wipro Invested $2 Million in AI Startup Avaamo Inc

Wipro Ltd announced it has invested $2.02 million in Avaamo Inc and picked up a 20% minority stake on a diluted basis in the US-based artificial intelligence computing platform. In a BSE filing, the company stated, “Investment of $2.02 million in this tranche through a fresh infusion of funds into Avaamo.” Reports suggest that the tech giant might convert convertible notes previously issued and add to the initial funding taking the grand total investment to $3.02 million. Soon after announcing its investment in Avaamo Inc., Wipro rose 0.66% to Rs 295.20 on BSE at 9:22 IST. Wipro's consolidated net profit fell 11.85% to Rs 1920.10 crore on 1.82% growth in net sales to Rs 13669 crore in Q3 December 2017 over Q2 September 2017. Avaamo is an artificial intelligence-driven enterpris...
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