Wipro sets up venture fund to invest in consumer brands start-ups

BENGALURU, Sept 19: Wipro Consumer Care andLighting has set up a venture fund to invest in start-ups inthe consumer brands space with India and South East Asia beingfocus markets.The ‘Wipro Consumer Care – Ventures’ will focus oncompanies with a differentiated approach where both partiescan learn by leveraging their strengths and add value to eachother.

A part of Wipro Enterprises, it has appointed SumitKeshan, a former Wiproite, as the Managing Partner of theVentures, it said in a statement.”Our investment in ‘Happily Unmarried’ was our firststep to establishing this venture capital fund. Apart fromfinancial capital, what we bring to the table is deepknowledge of operations and the ability to scale up, and astrong understanding of consumers in India and South East Asiamarkets,” Keshan said.Wipro Consumer Care and Lighting operates mainly inpersonal care, skincare, home care, and lighting categories.

The company intends to invest in new-age start-ups indigital, e-commerce, and other ventures that adopt aninnovative approach to reach consumers, it said.It will invest in companies in India and SoutheastAsia that have strong entrepreneurs and a sound businessmodel.In 2017, the company invested in ‘Happily Unmarried’in India, which markets men’s and women’s grooming productsunder the brands ‘Ustraa’ and ‘Happily Unmarried’,respectively. (PTI)


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