Industry News

Emailage raised funding from Wipro Ventures

United States: Wipro Ventures, an investment arm of Wipro Limited invested an undisclosed amount in a U.S. based intelligent fraud risk assessment Emailage. The investment firm had taken a minority stake in the start-up.

Emailage has a global clientele of Fortune 500 companies. The company has headquartered in Arizona, U.S. and has offices in London, U.K. and São Paulo, Brazil. The startup deals with eCommerce, Financial, Airlines and ticketing industries.

The start-up offers Intelligent Fraud Risk Assessment Solution by using machine learning and algorithms which provide real-time alerts of unusual transactions.

TechSci Research depicts that the technology giants are increasingly investing in the start-ups. Wipro Ventures had already made an investment in multiple start-ups Opera Solutions which deals in data analytics, Vicarious which provides artificial intelligence, Drivestream which is a cloud computing venture, and Altizon which is an IoT startup.

As the technology market is becoming more disruptive and start-ups are taking the lead in introducing innovative technological solutions to the market, technology giants and their associated divisions are supporting the ecosystem either by investing in start-ups or taking the inorganic growth path by acquiring the start-ups.

According to the recently published report by market research and consulting company TechSci Research, “Global Cyber Security Market Forecast and Opportunities, 2020”, global cyber security market is projected to surpass USD123 billion by 2020. Growing inclination towards cloud storage, introduction of public clouds and growing emphasis on digitization are propelling the need for cyber security across the globe. North America and Europe have been the leading revenue contributors, capturing major shares in the market in 2014. Banking and financial services sector has been the prime target of cyber criminals over the last five years, followed by IT & telecom, defense and Oil & Gas sector. Thus, companies and governments across the globe are increasing their budget allocation towards cyber security. The report states that Rising Venture Capital Funding as a key major trend for the market.

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