|
|
Ratan Tata invests in two more start-ups
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 09 Feb, 2016
To encourage entrepreneurship,
Tata Sons chairman emeritus Ratan Tata on Monday announced investing an
unspecified amount in two more start-ups Moglix and Invictus Onclogy,
which are based in New Delhi.
As an e-commerce firm, Moglix
specialises in procurement of industrial products in
business-to-business (B2B) space, while medical firm Invictus is an
innovation-driven firm developing next-generation cancer therapeutics.
By
investing in Moglix, Tata has forayed into a manufacturing
tech-start-up as an investor, adding to his varied portfolio of
e-commerce and new-age tech-enabled firms.
"With his expertise in
the manufacturing sector, Tata will play an important role in mentoring
Moglix on business growth, global expansion and leadership," the
company said in a statement.
Founded by Rahul Garg, an ex-Google
geek, Moglix is focused on disrupting B2B industrial products space for
suppliers and buyers the world over.
"We are pleased to have an
icon of Indian manufacturing as our advisor. Tata's contribution to the
manufacturing sector has been inspirational and we look forward to his
guidance to steer the company in transforming the buying and selling
process for manufacturers across the country," Garg said in a statement.
Moglix
recently raised undisclosed pre-series A funding from venture fund
Accel Partners and Jungle Ventures to enhance its e-platform, build a
wider supplier base and increase marketing spend across Asia.
In
Invictus, Tata has invested as part of its series A financing round
along with institutional investors Navam Capital and Aarin Capital.
"The
funds will be used to advance our lead molecule to complete phase-one
clinical studies and to file a second investigational new drug
application, which translates into substantial value inflections for us
over the next 18 months," Oncology said in a statement.
Invictus
Oncology employs a supra-molecular technology platform to design
anti-cancer drugs that home into the tumour and modulate the tumour
immune response.
"Tata's investment is an affirmation of the
technology quality we have developed. We are getting good traction from
investors in India and overseas," Oncology co-founder and Harvard
Medical School assistant professor Shiladiyta Sengupta said in the
statement.
In the past 18 months, Tata has invested in a slew of
start-ups, including Infinite Analytics Inc., Snapdeal, Paytm, Ola,
Tracxn Technologies, Dogspot.in and Zivame.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|