According to sources, Wipro Ventures, the venture capital arm of Wipro, which is the country’s third largest software exporter, has invested an undisclosed amount, to grab a minority stake in Silicon Valley-based cyber security startup Vectra Networks. Wipro ventures is estimated at about $100 million currently.
Vectra Networks was founded in 2011 and claims of investors like Khosla Ventures, Accel Partners, Intel Capital and DAG Ventures. Vectra Networks is a startup focused on the Advanced Persistent Threat domain. Vectra, has built a next-generation platform that helps prevent cyber attacks. The team is a mixture of data scientists, network security engineers and user interface designers. On an average, Wipro’s startup investments, in the past have ranged anywhere between $1 million to $10 million.
The Vectra X-series breach detection platform continuously monitors network traffic to automatically detect any phase of an ongoing cyber attack. The platform provides visually intuitive reports of hosts under attack and context about what the attacker is doing. Vectra automatically prioritizes attacks that pose the greatest business risk, enabling organizations to quickly make decisions on where to focus their time and resources.
Wipro completed this investment in March 2016 and plans to go to market with Vectra jointly with its Cybersecurity and Risk Services Risk Services practice offerings. Interestingly, this development comes in at a time when its arch-rival Infosys is also aggressively investing in early-stage ventures which are working on potentially disruptive technology ideas.
Infosys has a corpus of $500 million for such investments and on Wednesday invested in Silicon Valley-based startup Trifacta, which helps clean up data and make it more usable and insightful. Till date, Wipro Ventures has invested in at least half a dozen early stage ventures including big data startup Talena, artificial intelligence startup Vicarious and Pune-based Altizon, which has built a new-age Internet-of-Things powered platform.