Beyond business: How Ratan Tata batted for Indian startup ecosystem
Source: Business Standard
 "Ratan Tata")
Ratan Tata (Credit: @RNTata2000)
Tata Sons’ Chairman Emeritus Ratan Tata was known as much for his business acumen as for his philanthropy. However, a lesser-known fact was his stellar track record when it came to startup investment.
Tata had, over the years, invested in several successful startups, having famously said that he viewed these investments as a “learning experience”.
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Over the last decade, the silver-haired tycoon backed the likes of Paytm, Ola and Snapdeal.
Starting out as a mobile recharge platform, Paytm went on to lead a digital revolution in the country and became the fintech major that it is today.
Ola – the homegrown competitor to global ride-hailing major Uber – has today evolved into a company with three subsidiaries, namely ‘Krutrim’, its AI offshoot, Ola Electric, its electric vehicle business, and the original Ola Cabs.
Tata had an eye for talent and the conviction to invest in it, whatever the age of that talent be.
An avid dog lover, he once received a letter from a design engineer at Tata Elxsi with a proposal to start a venture that would create collars for street dogs to prevent fatalities among them.
The engineer was Shantanu Naidu, who would go on to become one of Tata’s closest aides and the youngest general manager at Tata Trust. The friendship eventually led to Ratan Tata investing in Naidu’s startup, Goodfellows, which is aimed at assisting senior citizens.
Tata invested in as many as 40 new-age Indian startups across sectors. These include eyewear brand Lenskart, baby products brand Firstcry, services platform Urban Company, and business-to-business marketplace Moglix.
First Published: Oct 10 2024 | 12:11 AM IST
