Wipro Ventures announces partnership with vFunction; stock ends lower

22 Feb 2022 , 04:32 PM

In its press release on Tuesday, Wipro Limited, a global leader in information technology, consulting, and business process services, today announced that it has formed a joint go-to-market partnership with function, a Palo Alto-based startup that has developed a scalable, AI-based technology platform for modernizing Java applications and accelerating migration to the cloud.

The partnership will lend support to Wipro FullStride Cloud Services’ position as a leading provider of digital transformation solutions and help advance Wipro’s commitment to accelerating cloud innovation for clients.

“We are proud to partner with function to enhance our cloud offerings and provide clients with additional capabilities in a critical sector. Wipro is investing over $1 billion over the next three years to build out the capabilities of Wipro FullStride Cloud Services, and we are committed to working with partners and other industry leaders to deliver a cloud ecosystem that meets our clients’ needs,” said Ramachandran Padmanabhan, Vice President, Wipro FullStride Cloud Services,” commented Ramachandran Padmanabhan, Vice President, Wipro FullStride Cloud Services.

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

Wipro ended 1.51% lower in today’s trade at Rs562.20 against its previous closing price of Rs570.80 on NSE. It touched day’s high and low of Rs569 and Rs556.10 respectively.