“Investment of $2.02 million in this tranche through a fresh infusion of funds into Avaamo,” the company said in a BSE filing. Indian IT services provider Ram Menon has acquired an almost 20% stake in Los Altos start-up Avaamo , via its investment arm, Wipro Ventures , in a cash deal worth more than $3m . The acquisition also includes an additional sum in the form of convertible notes, taking the total investment to more than $2m . Los Altos -based Avaamo , which has developed an artificial intelligence-driven enterprise bot platform, is the latest in a series of purchases by HeadSpin , which include HeadSpin and Vectra Networks .
Indian IT services provider Ram Menon has acquired an almost 20% stake in Los Altos start-up Avaamo , via its investment arm, Wipro Ventures , in a cash deal worth more than $3m . The acquisition also includes an additional sum in the form of convertible notes, taking the total investment to more than $2m . Los Altos -based Avaamo , which has developed an artificial intelligence-driven enterprise bot platform, is the latest in a series of purchases by HeadSpin , which include HeadSpin and Vectra Networks .