Marking his third investment in India’s burgeoning e-commerce space in 90 days, Tata Group chairman emeritus Ratan Tata has made a personal investment in Bangalore-based online furniture store Urban Ladder. The e-tailer, however, did not disclose the amount of
Tata had made back-to-back investments in online marketplace Snapdeal in August and jewellery e-tailer Bluestone a few weeks later.
“Ratan Tata understands the furniture space very well, specially our focus on product design since he has a lot of knowledge of the subject. His inputs and guidance will be very valuable for us,” said Ashish Goel, CEO and co-founder, Urban Ladder.
Founded in July 2012 by Ashish Goel and Rajiv Srivatsa, Urban Ladder has so far raised $26 million from investors like Steadview Capital, SAIF Partners and Kalaari Capital. Incidentally, Urban Ladder may also get a pie of Softbank’s proposed $10-billion investment in India. The furniture e-tailer is reportedly one of the three companies to be invited to Tokyo later this month to further discussions on a new round of funding.
“When a person of Ratan Tata’s stature invests, it reinforces the notion that the industry is growing and has huge growth potential. It also increases the profile of these companies,” said Pragya Singh, associate vice-president at retail advisory firm Technopak.