Asianet News English

Tatas bet big on 'Super App'; seeking $2 billion as war-chest: report

The 'Super App' will be pitted against Mukesh-Ambani-controlled Reliance JioMart, Amazon India and Walmart-owned Flipkart.

Tatas bet big on Super App; seeking $2 billion as war-chest report-VPN
Author
Mumbai, First Published Jun 22, 2021, 9:49 AM IST
  • Facebook
  • Twitter
  • Whatsapp

Tata Sons is reportedly in discussions with overseas investors to raise approximately $2-2.5 billion as it moves ahead with the September rollout of the pilot version of its 'Super App', a media report has said.

'Super App' would offer a range of products across e-commerce, lifestyle, fashion and financial services among others under one roof in Bengaluru. It will be pitted against Mukesh-Ambani-controlled Reliance JioMart, Amazon India and Walmart-owned Flipkart.

An Economic Times report that in the early stage of fundraising, the $113-billion salt-to-software conglomerate is expected to rope in private equity funds.

Tata Sons would explore options for strategic investors after the business shows a substantial scale-up, the report added.

Health and fitness startup Curefit cofounder Mukesh Bansal, who has joined Tata Digital as president, is a key fundraising team member. Tata group acquired a stake in Bansal's company.

The Economic Times report says that Tata Digital are keen on utilising Bansal's expertise which once saw him building fashion e-commerce biggie Myntra, Flipkart and then Curefit.

Follow Us:
Download App:
  • android
  • ios