Spotlight on Ratan Tata-funded startups in Tata’s new role
The recent developments in the Tata Group has put the spotlight on the startup community, where Ratan Tata has been an active investor.
After stepping down as the as chairman of the Tata Group in 2012, Ratan Tata has invested in a number of Indian startups, including Snapdeal, UrbanClap, CashKaro, Urban Ladder, Paytm, Ola Cabs and Swasth India, among others.
According to News Corp VCCEdge, Ratan Tata invested around $0.58 million in startups during the first six months of 2016, compared with around $0.038 million during the same period of the previous fiscal. No official data on his investments is available.
As the 78-year old Tata goes back to head the regular day-to-day operations of the $103-billion Tata Group, speculation is rife whether this will affect his involvement with the companies. The startup community, though, is tight-lipped about it, but company executives told HT on conditions of anonymity that any impact was unlikely.
An email to Ratan Tata on the possible impact of his transition on investments remained unanswered till the time of going to press.Swati Bhargava, co-founder of Gurgaon-based cashback and coupons site CashKaro, which received an investment from Ratan Tata this year, said the company has utmost confidence in him, and their excitement in having him as an investor on board is not affected by the recent developments.”Given that Rata Tata is a personal investor in our company and what is happening in his business is more of his business and his professional aspects. There must have been some reason for him to take this action and decide and come back to power at the age of 78.”
Snapdeal and Urban Ladder refused to comment for the story. Ankur Pegu, co-founder, Swasth India and Abhiraj Bhal, co-founder, UrbanClap, too, refrained from commenting on the ongoing tussle within the Tata Group.
Mails to Ola Cabs and Paytm remained unanswered.
“Wonder what happens to @RNTata2000 the angel investor and aspiring VC fund principal now that he’s taken back power at @TataCompanies ?”, angel investor Mahesh Murthy had tweeted on Monday after the company announced Mistry’s ouster as the chairman of the Tata Group.
Source by hindustantimes….