Wipro Consumer Care & Lighting sets up a venture fund to invest in start-ups
Kolkata: Wipro Consumer Care and Lighting has launched Wipro Consumer Care - Ventures.
The initiative will invest in innovative start-ups in the consumer brands space. The venture will focus on companies with a differentiated approach where both parties can learn by leveraging their strengths and add value to each other.
To kick-start this, Wipro Consumer Care has appointed Sumit Keshan, a former Wiproite, as the Managing Partner of the Ventures.
“Our investment in Happily Unmarried was our first step to establishing this venture capital fund. Apart from financial capital, what we bring to the table is deep knowledge of operations and the ability to scale up, and a strong understanding of consumers in India and South East Asia markets. These would support start-ups in their endeavour to grow rapidly”, said Sumit Keshan, Managing Partner, Wipro Consumer Care - Ventures.
The company said it intends to invest in new-age start-ups in digital, e-commerce, and other ventures that adopt an innovative approach to reach consumers. It will invest in companies in India and Southeast Asia that have strong entrepreneurs and a sound business model.
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