Wipro Consumer Care Ventures enters overseas market
Wipro Consumer Care - Ventures, the venture funding arm of Wipro Consumer Care & Lighting has announced its investment in DSG Consumer Partners IV, a Singapore-based VC Fund. Since its inception in 2012, DSG is focused on Asian consumer segment with marquee investments in South-east Asia as well as India.
The Company has also done another investment last week in T.A.C.-The Ayurveda Co, India's fastest growing holistic D2C Ayurveda brand.
Commenting on the company’s first fund participation overseas, Mr Vineet Agrawal, CEO, Wipro Consumer Care & Lighting, said, “This is our first overseas investment from Wipro Consumer Care - Ventures. This is also the first time we are investing in a fund as Limited Partners (LP). Wipro Consumer Care & Lighting has a strong presence in South-east Asia, and we would be able to support startups in the region.”
Commenting on the investments, Mr Sumit Keshan, Managing Partner, Wipro Consumer Care - Ventures said, “We are excited to announce two investments this week. DSG Consumer Partners is a well-established fund with large number of marquee investments. TAC – The Aryurveda Company is a promising startup in the Ayurveda segment with niche offerings for consumers. We see exciting and promising times ahead in FMCG space with several innovations and unique business models emerging among startups. In addition to investments, we support these startups by sharing our deep operational knowledge and experience in scaling businesses.”
“We look forward to supporting, adding value, as well as learning from the innovative and progressive start-ups we invest in,”added Mr. Keshan
Wipro Consumer Care is among the top 3 personal care companies in all markets it is present in South-east Asia. The Company has significant presence in Malaysia, Indonesia, Vietnam, Philippines, Singapore and South China.
In 2019, the company set up the Wipro Consumer Care - Ventures fund to invest in startups specifically in India and South-east Asia. So far, Ventures has invested in seven companies in India - Happily Unmarried, MyGlamm, LetsShave, OneLife Nutraceuticals, PowerGummies, Soulflower and T.A.C.-The Ayurveda Co.