Insta
Tata Sons Approaching Global Investors To Raise $2-2.5 Billion For Its Digital Business Push: Report
Swarajya Staff
Jun 22, 2021, 01:13 PM | Updated 01:13 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
N Chandrasekaran led Tata Sons to have approached global investors to raise an estimated sum of $2-2.5 billion for its digital business push, reports The Economic Times.
Chandrasekaran had visited the United States (US) in May and has met with investors to showcase the group's foray into the e-commerce space. Tata Sons is likely to tap in private equity (PE) funds in the initial stage of its fundraising. At the same time, it will also look at strategic investors after the business demonstrates a sizable scale-up.
The development gains much significance as the group is readying for a pilot launch of its much-talked-about upcoming super app in Bengaluru in September.
It should be noted that a key member of the group's fundraising team is Cure-fit cofounder Mukesh Bansal. The health and fitness startup was acquired by Tata Digital just weeks ago, and after that, Bansal had joined Tata Digital as its president.
Bansal has been brought in keeping in mind his fundraising experience and over a decade of experience in running consumer internet businesses.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.