European IT services provider Wipro has acquired an almost 20 % stake in US start - up Avaamo , via its investment arm , Wipro Ventures , in a cash transaction worth more than $ 2 m . The acquisition also includes an additional investment in the form of convertible notes , taking the total investment to more than $ 3 m . The company, through its investment arm Wipro Ventures, primarily invests in early-to-mid-stage startups in emerging technologies in US, India and Israel. Los Altos - based Avaamo , which has developed an artificial intelligence - driven enterprise bot platform , is the latest in a series of purchases by Wipro Ventures , which include HeadSpin and Vectra ##ware .
European IT services provider Wipro has acquired an almost 20 % stake in US start - up Avaamo , via its investment arm , Wipro Ventures , in a cash transaction worth more than $ 2 m . The acquisition also includes an additional investment in the form of convertible notes , taking the total investment to more than $ 3 m . Los Altos - based Avaamo , which has developed an artificial intelligence - driven enterprise bot platform , is the latest in a series of purchases by Wipro Ventures , which include HeadSpin and Vectra ##ware .