BackRatan Tata invests in Bluestone.com
This is the second investment made by Ratan Tata in the e-commerce space
Premium
Mumbai: Ratan Tata, chairman emeritus of Tata Sons Ltd and former chairman of the Tata Group, has made a strategic investment in Bangalore-based online jewellery company, Bluestone.com, part of BlueStone Jewellery and Lifestyle Pvt. Ltd.
“Ratan Tata logs on to @BluestoneDotCom with a strategic investment," Bluestone tweeted on its official Twitter handle @BluestoneDotcom.
The news was first reported by The Times of India on Thursday.
Bluestone.com was founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj. The company raised $5 million in 2012 from Accel partners and another $10 million from Kalaari Capital and Accel Partners and Saama Capital in March this year.
This is the second investment made by Ratan Tata in the e-commerce space. As reported by Mint on 27 August, Tata made in inveatment in the New Delhi-based Jasper Infotech Pvt. Ltd that owns and operates Snapdeal.com.
A Tata group spokesperson did not offer any comments for the story, saying Ratan Tata invested in his personal capacity.
Mint reported in January this year that PremjiInvest, the private investment venture of billionaire Azim Premji, is investing $15-20 million in Myntra.com—an online clothing and footwear retailer that was acquired by Flipkart thjis year.
Amazon.com Inc.’s Asia unit will provide back-end support in a venture with Catamaran Ventures, an Indian private investment firm formed by Infosys Ltd co-founder N.R. Narayana Murthy, which aims to help get Indian companies online, Reuters reported on 27 June. The partnership with Amazon Asia, it added, will target small- and medium-sized firms.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
