One quick thing: PhonePe picks i-banks for IPO; eyes $15 billion valuation  

In today’s newsletter:

• Wipro's $200 million startup bet
• Botnets, malware target Indian smart cities
• How Tata Capital-backed MOC is reimagining cancer daycare

Was this newsletter forwarded to you? You can sign up for Tech3 here

Wipro is writing another big cheque for startups!

Wipro is doubling down on startups, committing $200 million to its venture arm, Wipro Ventures, in its fourth funding round since its launch in 2015.

• The investment aims to accelerate backing for early- to mid-stage startups globally.

Wipro Ventures was set up 10 years ago to help startups scale and collaborate with IT services.

So far, Wipro Ventures has invested in 37 startups across AI, cybersecurity, cloud, and data analytics.

• It has also facilitated the deployment of solutions for over 250 Wipro customers worldwide, with 12 successful exits

Apart from direct investments, Wipro Ventures has also backed multiple early-stage and cybersecurity-focused venture funds across India, the US, and Israel.

Wipro Ventures is not just another investing arm; the Bengaluru-headquartered firm has set it up for a strategic purpose.

• Wipro Ventures connects Wipro and its clients to a global ecosystem of startups working on disruptive technologies

This connection enables Wipro's clients to access the latest innovations while providing startups with access to a global network of enterprise customers.

Dig deeper

India’s smart cities are getting smarter—but also more vulnerable.

A new Indian Computer Emergency Response Team (CERT-In) study has flagged cybersecurity gaps across 20 smart cities, revealing botnets, trojans, and misconfigured networks that could put critical services at risk.  

• The CERT-In study was conducted in collaboration with cybersecurity agency Kaspersky and was released on February 17

Trojans like Avalanche-Andromeda and Gamarue were most prevalent in western, central, and northern India.

• Botnet infections, especially Socks5 Systems, were more common in southern cities

• Misconfigured network settings, particularly simple network management protocol (SNMP) vulnerabilities, left many cities exposed to cyber attacks, the study said 

Why is this happening? Smart cities rely on interconnected devices, cloud, and AI systems, creating a vast cyber attack surface.

CERT-In has recommended a multi-layered security approach, including:  

• Network segmentation to isolate critical systems  

• Stronger IoT security protocols  

• Real-time threat monitoring  

• Regular penetration testing and misconfiguration fixes

Dig deeper

For many Indians battling cancer, the options have been bleak: endless waits at overcrowded government hospitals or exorbitant bills at private facilities. 

• However, a new business model is changing this equation

Four oncologists-turned-entrepreneurs are building a large chain of affordable, neighbourhood daycare centers for cancer treatment-- MOC Cancer Care & Research Center.

• Covers nearly 80% of a cancer patient’s journey—counselling, diagnosis, chemotherapy, nutrition, pharmacy, semi-ICU, advanced Next-Generation Sequencing (NGS)
  
  
• Refers patients needing surgery or radiation to hospitals, keeping the model low-capex and scalable for the masses

Treatment costs are 30-40% lower than those at corporate hospitals, with some drugs priced 50% lower.

"We’ve never lost or burnt money since inception," the founders told us, maintaining profitability while making cancer care standardised and accessible.

Tata Capital-backed MOC administers around 65,000 chemotherapy sessions annually and has treated 450,000 patients to date. 

• It has expanded to 24 centers across Maharashtra and Gujarat, supported by 47 oncologists

Elevation Capital is the latest to back MOC with an $18 million investment.

• Bootstrapped till 2023, MOC had previously raised $10 million from Tata Capital Healthcare Fund
  
  
• In May 2024, MOC expanded into Gujarat through a merger with Hemato Oncology Clinic (HOC) and recently opened its first international center in Tanzania. 

MOC plans to expand into North India, invest in AI-driven cancer care, digital records, molecular research, and lending partnerships.

Find out more 

Thousands of jobs hang in the balance as visual effects (VFX) and animation giant Technicolor stares at a full shutdown. 

• While the company has started shutting down its US operations, Technicolor is contemplating the way forward in markets like India 

Indian players expect uncertainty due to the trouble at Technicolor but also expect opportunities to open up, especially with Indian firms like Greengold Animation and Prime Focus expanding their capabilities. 

Click to know more

• DeepSeek has reopened access to its core programming interface after nearly a three-week suspension.
  
  
• Hong Kong will cut thousands of civil service jobs and boost spending in artificial intelligence as it seeks to tackle an increasing deficit.

Can a credit score affect your chances of landing a job? Yes...if the job is at Kunal Shah's Cred. 

Those seeking employment at the fintech firm must have a credit score exceeding 750 to be considered.

"The intent is simple. If you are building products that are going to drive responsible financial behaviour, we have to live it first," Shah said. 

If a candidate lacks the required score, they are given three months to improve it, with the company actively assisting them in the process.

Dig deeper

Note: By subscribing to Tech3 you have already made the right choice. Top it up with a premium offering, the Moneycontrol Pro Panorama, newsletter that gives you a sharp take on macros, markets, business and finance. Sign up for Pro from this link to get this newsletter in your inbox and also a host of content enjoyed by over a million subscribers.