The third largest exporter in India has picked up a minority stake in US-based cloud solutions startup. Drivestream Inc for $5 million — its first venture investment in a startup after it launched a $100-million corporate venture last year. Over the past two years, Wipro has invested in startups – a $30-million investment in US-based Big Data startup Opera Solutions and a $5-million investment in Axeda.
”As part of this arrangement (acquiring minority stake), Wipro is investing USD 5 million in Drivestream Inc,” it said in a statement.
“This investment into Drivestream reflects Wipro’s continued commitment to help our customers adopt Oracle cloud applications. This unique complement of strengths between the two companies will enable us to jointly deliver value to our customers and enhance our leadership in the Oracle