Wipro Ventures invests in software testing company Tricentis

Wipro to take solutions to clients globally

Wipro Ventures, the investment arm of Wipro has made an investment in Vienna-based software testing company Tricentis.

The investment of an undisclosed sum in Tricentis' series B funding in January this year where Tricentis raised roughly $165 million.Wipro ventures has invested over Rs 156 crore in 11 startups globally.

Wipro will take its products and solutions to its customers.

The partnership will integrate Tricentis Tosca, a continuous testing platform with Wipro AssureNX, a quality assurance platform and combine with Wipro HOLMES artificial intelligence platform in a broad automation ecosystem. Tricentis has been named Leader in Gartner's magic quadrant for software testing two years in row. Last month Tricentis acquired Flood IO, a popular load testing solution provider. HBO, ExxonMobil, Toyota, Deutsche Bank and Vodafone are among the company's global clients. CEO Sandeep Johri served as Vice President of Hewlett Packard's Strategy and Industry solutions before working with a number of high profile startups.

Wipro's recent investments have ranged from cyber security firms like Vectra Networks, Demisto and Israel-based Intsights to automation and AI driven firms like Vicarious, Altizon systems and Avaamo apart from service management companies like Tradeshift, Drivestream and Talena. The $100 million Wipro Ventures is headed by Azeem Premji's son Rishad Premji and invests in early to mid-stage startups. Most of these companies are less than 10 years old but are also highly valued. Tricentis witnessed 101 per cent revenue growth in the June quarter compared to the previous year.

Similarly, peer Infosys has been backing startups with a $500 million (Rs 3183 crore) venture fund which has invested in nine companies so far. The investments include AI firm UNSILO, big data startup Tidal Scale and Waterline DataScience, data visualization startup Trifacta and Cloudyn software based in Israel. Infosys has also written down Rs.700 crore in animation company DWA Nova as reported in the June quarter.