Ratan Tata seems to be smitten by Indian e-commerce, looks like this former chief of Tata Group wants to bring more and more online portals under his umbrella. After making an investment in Snapdeal, followed by one in BlueStone, Tata Sons’ chairman has now brought online furniture retailer Urban Ladder into his investment portfolio.
Bangalore based, Urban Ladder had recently raised USD 21 million in Series B round in July, led by Hong Kong-based Steadview Capital with participation from existing investors SAIF Partners and Kalaari capital. The amount for the investment raised from Ratan Tata is undisclosed at the moment.
Launched in July 2012, Urban Ladder was co-founded by Ashish Goel and Rajiv Srivatsa, and as FirstPost reports, it’s one of the companies shortlisted for funding by SoftBank, Japanese Corporation that recently invested in Snapdeal, and hence might see another round of investment soon.
Kumar Mangalam Birla has also shared his plans of launching or acquiring an e-commerce company. It appears that these seasoned businessmen have started to accept e-commerce as a mainstream business and understand its importance to stay in sync with the changing trends.