Wipro invests in Palo-Alto-based start-up, vFunction

23 Feb 2022 , 10:07 AM

The partnership will strengthen Wipro FullStride Cloud Services position as a provider of digital transformation solutions and help advance Wipros commitment to accelerating cloud innovation for clients.

In conjunction with this partnership, Wipro Ventures, the corporate investment arm of Wipro, announced that it has invested in vFunctions Series a funding round to deepen the strategic partnership.

On a consolidated basis, Wipro reported 1.3% rise in net profit to Rs 2,970 crore on 3.3% rise in revenue from operations to Rs 20,313.6 crore in Q3 December 2021 (Q3 FY22) over Q2 September 2021 (Q2 FY22). On a year-on-year basis, Wipros net profit fell 0.85% while revenue increased 29.63% in Q3 FY22.

Shares of Wipro rose 0.36% to Rs 566.15 on BSE. Wipro is a leading global information technology, consulting and business process services company.

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