Wipro Consumer Care Ventures plans to expand portfolio with investments in start-ups
Wipro Consumer Care Ventures is planning to expand its portfolio by investing in four to six start-ups in sectors such as wellness, clean beauty among others in 2021.
Amid the Covid-19 disruptions, Wipro has tweaked its investment strategy with a focus on hygiene and wellness as it sees huge potential for growth in these segments.
“In the past, we had been scouting for investment opportunities more in the personal care and home care segment. The pandemic has helped us broaden our investment focus. We are now also strategically looking to invest in start-ups in the nutraceuticals, food and wellness, clean beauty and feminine hygiene segments,” Sumit Keshan managing partner for Wipro Consumer Care Ventures told Businessline.
“We are aiming to do anything between four-six deals in 2021. The venture fund has been set up to invest in start-ups in the consumer brands space in India and South-East Asia,” Keshan added.
Wipro Consumer Care Ventures was set up in September 2019 to invest in start-ups in the consumer brands space. It has already invested an undisclosed amount to buy minority stakes in two start-ups in the grooming space Letsshave and Ustraa.
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