Ratan Tata has now invested in another online tech startup Zivame. The online lingerie retailer is yet another tech company to receive funding from the businessman, after he stepped down from his active role in the Tata Group. Also Read - Tech Tips: How to send money via Google Pay, PhonePe, PayTM without internetAlso Read - How to book train tickets, check PNR status via Paytm
The amount of investment is left undisclosed, and Economic Times reports this news from an anonymous source aware of the matter. “(Tata) invested in the company much before it raised the latest round,” said the source to the publication. Also Read - Book LPG cylinder via Paytm and get discount up to Rs 2,700: How to grab the deal
Zivame was founded in 2011 by Richa Kar and Kapil Karekar. The company recently managed to raise Rs 250 crore from Zodius Technology Fund and Khazanah Nasional Berhad, the strategic investment fund of the government of Malaysia.
The company has said that it will use the money to develop technology and strengthen customer base. The Bengaluru-based firm also announced the launch of a dedicated lingerie app.
Rata Tata’s investment comes as a big boost for four-year-old this tech startup. Tata has earned quite a reputation in the recent times, for becoming an angel investor in many startup companies. He has invested money, and joined the board as a financial advisor in many companies like Paytm, Olacabs, Snapdeal, Xiaomi, Cardekho, and even women’s clothing brand Kaaryah.