Wipro on Friday announced the purchase of a minority stake of less than 20 per cent on a fully diluted basis in Kibsi Inc. through an exchange filing.
According to the exchange filing, this is a minority strategic investment, and the company wanted a business partnership in the domain of computer vision applications.
Kibsi Inc. is a company incorporated in July 2021 in Delaware and is a developer of a fully integrated end-to-end environment designed for building computer vision applications. The company offers a cloud-native, low-code platform that democratises computer vision, enabling customers to focus on their business needs.
Earlier this week, Wipro Gallagher offloaded its stake in mortgage firm Wipro Opus Risk Solutions.
Wipro had also allotted 63,319 shares as stock options on December 21, 2022.
