Wipro has bought minority stake in Israeli cyber security company, Intsights Cyber Intelligence for USD 1.5 million.
Intsights is an early stage company founded in 2015. Intsights offers a threat-intelligence-driven security platform employing cyber intelligence, rapid mitigation, and one-click remediation. The Indian company made the investment in Intsights through Wipro Ventures, its USD 100 million strategic investment arm.
Wipro's VC arm invests USD 1-5 million per financing round in early- to mid-stage startups in India, Israel, and the US. It invests in areas such as open source, Big Data and analytics, artificial intelligence, Internet of Things, and security.
In April, Wipro Ventures had invested an undisclosed amount in US-based cyber security company Vectra Networks Inc. for a minority stake. In March, Wipro Ventures picked up a minority stake in US-based IT security startup Emailage Corporation.
This is also not the first time that a Wipro group company is engaging with an Israeli startup. Earlier this month, Wipro Infrastructure Engineering, the business arm of Wipro Enterprises Pvt. Ltd., agreed to buy H.R. Givon Ltd., in an all-cash deal. In June, Wipro invested an undisclosed sum into Israeli venture capital firm TLV Partners.