Ola was recently in the news as the US asset manager Vanguard decided to cut Ola Cabs’ valuation by 30 per cent to under USD 2 billion.
The demise of Ratan Tata, the Tata Sons’ Chairman, last year marked an end to the significant stint of a business tycoon who carved out a niche for himself in the national conscience. Among other things, what Ratan Tata will be known for is his farsightedness. In tangible terms, Tata made investments in several startups over the years, which have now become unicorns.
Here’s the list of some of the unicorns that Tata made investments in:
Lenskart: The company has the tag of being the largest eyewear retailer in Asia. Recently, Lenskart raised a whopping USD 200 million in secondary investment from Singapore’s state-owned investment firm Temasek and US financial services major Fidelity. Currently, the firm is valued at nearly USD 9.6 billion in this round.
Urban Company: Having earned its name for the home services and beauty salon marketplace, the firm joined the unicorn club in June 2021. It currently has a valuation of over USD 2 billion.
Ola Cabs: Another major firm that Tata chose to invest in is Ola Cabs. The firm was recently in the news as the US asset manager Vanguard decided to cut Ola Cabs’ valuation by 30 per cent to under USD 2 billion.
Moglix: The company became a unicorn in 2021. Earlier, it raised USD 120 million in fresh funding, taking its valuation to USD 1 billion.
First Cry: The company is operated by Brainbees Solutions. It launched its initial public offering (IPO) at a valuation of USD 2.9 billion in August last year.
Car Dekho: This startup has taken significant strides since its inception in 2008, as it has entered global markets. It features among the first app-based car listing platforms to turn a unicorn.
The other significant startups that Tata chose to invest in are:
- Snapdeal
- Cult.fit
- Upstox
- Paytm Mall
