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Tag: Ratan Tata

  • Ratan Tata Invests in Ola Electric Mobility

    Ratan Tata Invests in Ola Electric Mobility

    Ola Electric Mobility announced that Ratan Tata, Chairman Emeritus of Tata Sons, has invested in the company as part of its Series A round of funding. This investment is in Ratan Tata’s personal capacity in the newly formed Electric Mobility company. Tata is also an early investor in ANI Technologies Pvt Ltd, Ola’s parent company. Tata’s investment in Ola Electric is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. Investment details are still under wraps.

    Ratan Tata, said, “The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of Bhavish Aggarwal and I’m confident that this will be part of yet another important strategic move into this new business area.”

    Ola Electric Mobility Pvt Ltd raised a sum of ₹ 400 crores led by several of Ola’s early investors, Tiger Global and Matrix India and others, as part of its first round of investment. The company was initially established to enable Ola’s electric mobility pilot program in Nagpur.

    Bhavish Aggarwal, Co-founder & CEO, Ola said, “Mr. Tata has been an inspiration and a mentor to me personally in shaping Ola’s journey over the years. I’m very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet. He is a visionary who has inspired a generation of entrepreneurs and we are privileged to have his guidance and support once again, as we work towards our goal of a million electric vehicles in India by 2021.”

  • Ratan Tata backs retail tech startup SnapBizz

    Ratan Tata backs retail tech startup SnapBizz

    Tata Sons’ chairman emeritus Ratan Tata has invested an undisclosed amount of funding in retail technology startup SnapBizz Cloudtech Pvt Ltd.

    Earlier last month, the startup, which provides an Android-based connectivity platform to local offline grocers, raised $7.2 million (around Rs 48.7 crore) from Jungle Ventures, Taurus Value Creation and other VC firms, to expand across key cities in India.

    Before that, the Singapore-headquartered firm, which has an office in Bangalore, received a seed funding of $1.7 million from Qualcomm, Jungle Ventures, National Research Foundation of Singapore, Taurus Value creation and Blume Ventures.

    This is the eighth investment in 2016 for Tata, one of India’s most active angel investors last year. This year, Tata has also invested in tea etailer Tea Box, coupons site CashKaro, baby products e-commerce site FirstCry, startup analytics firm Tracxn, animal lovers’ portal DogSpot, Invictus Oncology and Moglix. He has backed 29 startups since retiring as Tata Group’s chief.

    “A visionary of Tata’s stature showing confidence in SnapBizz is certainly a big boost for our business idea and will continue to accelerate the digital revolution in India’s kirana stores,” said Prem Kumar, CEO and founder, SnapBizz, in a statement.

    Founded in 2013 by Prem Kumar and Yashwant Prakash, SnapBizz aims to develop a mobile technology platform to connect the various stakeholders of a fragmented retail market ecosystem. SnapBizz’s Android-based, cloud-connected solution in the form of a tablet, barcode scanner, printer and a consumer-facing LED display enables merchants to manage their billing inventory and customer engagement.

    SnapBizz currently works with over a thousand kirana stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and Bangalore and aims to expand its footprint across tier 1 and 2 cities.

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  • Ratan Tata invests in retail tech startup SnapBizz

    Ratan Tata invests in retail tech startup SnapBizz

     Ratan Tata Now Invests In Retail Tech Startup SnapBizz. Tata Sons’ chairman emeritus Ratan Tata has invested an undisclosed amount of funding in retail technology startup SnapBizz Cloudtech Pvt Ltd.

    SnapBizz is now has presence in retail outlets in Mumbai, Pune, New Delhi, Bengaluru and Hyderabad through a technology solution addressing the key business challenges faced by them.

    Commenting on the funding, Prem Kumar, Chief Executive, Snapdeal said, “Tata, as one of the most respected names in corporate India, brings a rich legacy of doing business with a human touch”.

    The announcement comes less than a month after the Singapore- and India-based startup announced US$7.2 million in Series A led by Jungle Ventures, with participation from Taurus Value Creation, Konly Venture and Blume Ventures. “It comprises of tablet, barcode scanner, thermal printer and an intelligent external 22” consumer facing LED display for Hi-Definition consumer engagement.

    SnapBizz had previously secured US$1.7 million in seed funding from Qualcomm Ventures, Jungle Ventures, National Research Foundation of Singapore, Taurus and Blume.

    This is Mr Tata’s eighth investment in start-ups in 2016 so far.

    In a diverse market like India, where the traditional kirana stores make 98% of store universe and 85% of retail business, the Snapbizz solution is revolutionizing kirana stores across the country by connecting all the dots of the fragmented FMCG ecosystem (brands, retailers, consumers, wholesalers and distributors) and addresses pain points of all stakeholders. This year, Tata has also invested in tea etailer Tea Box, coupons site CashKaro, baby products e-commerce site FirstCry, startup analytics firm Tracxn, animal lovers’ portal DogSpot, Invictus Oncology and Moglix.

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