Tata Sons preparing to raise Rs 18,000 crore for digital business, New APP launch likely in September

The launch of the new app in the Indian e-market is going to happen soon. The Tata Group, the country’s most trusted industrial house, is about to do a pilot launch of SuperApp in September this year to expand its digital business. The company is preparing to raise $ 2-2.5 billion (Rs 14.83-18.53 thousand crore) from foreign fund investors before that.

The main objective of the Tata Group is to grow the digital wing of the company as a whole. So that it can give tough competition to the already existing companies in the market. Like Amazon, Flipkart and Reliance Group’s Jiomart.

Tata Sons Chairman N Chandrasekaran visited the US in May. According to the Economic Times report, during this time he promoted the new venture of the group. Private equity (PE) funds are likely to be approached at the initial stage. Now strategic investors will be approached after the business size is finalised.

Mukesh Bansal in the team formed to raise funds: According to the report, Mukesh Bansal, co-founder of fitness startup Curefit, has been made the President of Tata Digital. Bansal is also one of the key members of the fund-raising team. He was also associated with Myntra prior to CureFit. In 2014, when Flipkart acquired Myntra, he was made the commerce head of Flipkart.

Let us know that through this app of the giant Tata Group, users will get all kinds of online facilities. In this, services of e-commerce, financial services, fitness, lifestyle including fashion and others will be available. According to media reports, loyalty points will also be available from the use of the app. Which can be used in other Tata properties like booking on Vistara flights, staying in Tap Hotel.

The special thing is that other ventures of Tata Group like online grocer BigBasket, pharmacy startup 1MG will also be included in the app. Apart from this, Tata Click will also be a part of the app itself.

Back to top button