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Wipro invests more in US data management software startup Imanis

26 December, 2017

Wipro Ltd has invested $2.05 million (Rs 13 crore) in data management software maker Imanis Data Inc, India’s third-largest software services exporter said in a stock-exchange disclosure.

The billionaire Azim Premji-led IT company said that it had earlier invested in the US-based software company in 2015 through its venture capital arm, Wipro Ventures.

The latest investment takes the total Wipro has put in Imanis to $4.05 million. Wipro holds a stake of less than 20% in Imanis on a fully diluted basis, according to the disclosure.

Founded in 2013, Delaware-based Imanis Data offers data backup services and provides recovery software for modern data platforms. It was formerly known as Talena Inc.

The other investors in Imanis Data include Canaan Partners, Intel Capital and ONSET Ventures, according to its LinkedIn profile.

Wipro Ventures, which was launched in September 2014, primarily invests in early to mid-stage startups in emerging technologies in India, Israel and the US. It typically puts in between $1 million and $10 million in a single round, depending on the stage of the investment.

Its focus areas include fin-tech, healthcare IT and the broader enterprise software sector with a specific focus on domains such as artificial intelligence, big data and analytics, cloud infrastructure, Internet of Things, and security, according to its website.

In November, Wipro Ventures had invested an undisclosed sum in California-based app testing platform HeadSpin Inc.
Its portfolio also includes artificial intelligence startup Vicarious, Pune-based industrial IoT startup Altizon Systems, US-based cybersecurity company Vectra Networks, and risk and fraud prevention firm Emailage Corporation.

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Wipro invests more in US data management software startup Imanis

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