The new venture fund of Wipro Consumer and Lighting, launched in September 19 has been assigned a whopping amount of Rs. 200 crores. This was confirmed by CEO Vineet Agrawal. “A startup is coming to us because they can get more than what a regular financier can offer,” he said.
Wipro Enterprises extended its reach to further attach itself to the audience via its $1 billion branch known as the Wipro Consumer and Lightning.
Wipro Consumer Care and Lighting has been into this project and will be catering to invest in about 3-4 startup’s every year. It itself delves into home care, skincare, personal care and lightning categories. It is an FMCG (Fast Moving Consumer Goods) limb of Wipro. This initiative of Wipro to invest in startups will not only raise the Market with fresh startups but will also give the people something more.
With this huge funding to the startup project, Wipro’s major aim is to connect to consumers in this time and age, via these young blooming startups belonging to digital and e-commerce nuances. They are looking for promising startups that have potential and the aptitude to add value to their esteemed organisation. Otherwise, Wipro has its hands full other business ventures and statups alike, and is always on the lookout to add more evaluation to the commendable work it does.
Lately, startups in India have been developing and rising constantly due the avantgarde ideas they house, technological innovation, audience’s changing preferences and the onset of new and better technology.