Mumbai: Top industrialist Ratan Tata has invested in specialty tea firm Teabox, thereby continuing his long series of investments in various start-ups globally in the recent past.
However, the value of the investment was not disclosed. In a statement, Teabox said: “It has raised an undisclosed round of financing from Ratan Tata... The additional capital will help fuel Teabox’s continued growth as it expands in other major markets around the world.”
Teabox Founder and CEO Kaushal Dugar said: “We have grown up admiring and respecting his (Tata’s) vision and business acumen on scaling the Tata group to a global level. His direct guidance and experience in the tea industry will surely help us grow Teabox to be the first global premium tea brand from India.”
The Tata Sons’ Chairman Emeritus has been aggressively investing in start-ups, ranging from e-commerce firms to cab aggregators. He has invested in firms like Snapdeal, Kaaryah, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Xiaomi and Ola.
Tata, who served as the chairman of Tata Sons for over two decades until his retirement in 2012, is also associated with some venture capital funds as advisor, including Kalaari Capital and Jungle Ventures.
Founded in 2012, Teabox delivers teas from Darjeeling, Assam, Nilgiri and Nepal to the entire world. Within three years of its existence, Teabox claims to have delivered over 30 million cups worth of tea to customers in 93 countries
(With agency inputs)