Ratan Tata: 10 Startups He Invested in that Turned Unicorn Over the years, Tata had invested in several startups, many of which went on to become unicorns. Let's take a look at some of the unicorns that Tata has invested in.
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Tata Sons' Chairman Emeritus Ratan Tata's demise is a giant loss for India Inc. – both for the large corporates and the startup ecosystem.
Tributes poured in from leaders across industries.
"India has lost a giant, a visionary who redefined modern India's path. Ratan Tata wasn't just a business leader - he embodied the spirit of India with integrity, compassion and an unwavering commitment to the greater good. Legends like him never fade away," Gautam Adani, Chairperson of Adani Group posted on X.
"Ratan Tata was a visionary industrialist and a philanthropist, who always strove for society's greater good. With the demise of Ratan Tata, India has lost one of her most illustrious and kind-hearted sons. Tata took India to the world and brought the best of the world to Bharat. He institutionalised the House of Tata and made it an international enterprise growing the Tata group over 70 times since the time he took over as Chairman in 1991," said Mukesh Ambani, Chairman and MD, Reliance Industries.
Over the years, Tata had invested in several startups, many of which went on to become unicorns. Here is the list of some of the unicorns that Tata has invested in.
Lenskart: IPO-bound Lenskart is now the largest eyewear retailer in Asia. Earlier this year, it has raised US$200 million in secondary investment from Singapore's state-owned investment firm Temasek and US financial services major Fidelity. The firm is now valued at nearly US$5 billion in this round.
Urban Company: The home services and beauty salon marketplace, joined the unicorn club in June 2021 with a valuation of over US$2 billion but the company hasn't raised any primary money in the past three years. In December 2021, it bought back employee stocks (ESOPs) at a valuation of US$2.8 billion.
Ola Cabs: US asset manager Vanguard has cut Indian ride-hailing company Ola Cabs' valuation by 30 per cent to under US$2 billion in at least its third-straight mark down.
Moglix: It entered the unicorn club in 2021 after raising $120 million in fresh funding which took its valuation to US$1 billion. The company was the first industrial B2B commerce platform in the manufacturing space in India to become a unicorn.
First Cry: Brainbees Solutions, which operates FirstCry, launched its initial public offering (IPO) at a valuation of US$2.9 billion in August this year. Brainbees Solutions Ltd. is the largest fashion first omni-channel retail platform for baby and kids' products in India, UAE and Saudi Arabia.
Car Dekho: From starting CarDekho in Jaipur in 2008 to entering global markets, the startup has surely come a long way. It is among the first app-based car listing platforms to turn unicorn.
Snapdeal: Kunal Shah-led Snapdeal is an operator of an online shopping platform intended to connect buyers to sellers and create a reliable and frictionless commerce ecosystem.
Cult.fit: Cult.fit, the health and wellness platform previously known as Cure.fit, has witnessed a significant leap in its financial performance during the fiscal year 2023. The Bengaluru-based startup revenue from operations saw a threefold increase, soaring to INR 694 crore in FY23, up from INR 216 crore in the preceding year. Cult.fit is valued at US$1.47B as per the latest available filings.
Upstox: Upstox has raised over US$200 million to date and was valued at US$3.5 billion in its last fundraise. It is one of the fastest growing stock broking platforms in India.
Paytm Mall: Vijay Shekhar-led Paytm Mall was once valued at over US$3 billion during its peak. However, after the exit of Alibaba and Ant Group, the company saw its valuation plummet significantly.
