Ratan
Tata has invested in online cash-back and coupons venture CashKaro.com. The amount
of investment hasn’t been revealed as yet. The e-commerce company will utilize
the funding for expanding its business to international markets, build brand
awareness and hire senior-level talents.
Key Facts:
>>
Similar to the likes of CouponDunia and CouponRaja, CashKaro offers customers
cash-backs along with coupons and discounts.
>>
The e-commerce company has partnerships with about 1,000 online retailers, and have
more than 10 lakh registered users with more than 25,000- 300,000 transactions
every month.
>>
The company is now aiming at gross merchandise sales of about Rs 1,000 crore in
the near future.
>>
Prior to Tata’s investments, CashKaro had raised about Rs 25 crore from Kalaari
Capital. The company has also earlier raised about $750,000 in angel funding.
Ratan Tata investment in
Startups:
Ratan
Tata has also made investments in a few e-commerce companies such as Snapdeal
and Urban Ladder. Last year, he made investments in companies such as Xiaomi,
Paytm and Ola Cabs.
It
is the third investment from Ratan Tata in 2016. This year, Tata Sons Chairman
Emeritus had made investments in a data analytics company Tracxn Technologies
and a pet car site called DogSpot.
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