Ganesh Kendale
Ratan Tata’s investments in Indian consumer internet companies, starting over a decade ago, significantly boosted the credibility and validation of developing startups. As one of the first prominent leaders of India Inc to back the growing ecosystem, Tata’s involvement has been a strong support for emerging ventures. Snapdeal was among the first Indian startups that Ratan Tata made personal investment in.Snapdeal received funding from Ratan Tata in 2014, at a time when India’s startup ecosystem was still nascent. In 2019, Tata described himself as an “accidental” investor in startups, expressing his belief in the sector’s significant growth potential.
Kunal Bahl, co-founder of Snapdeal, shared a video of his interaction with Ratan Tata that he wrote was a ‘special moment for him’. Paying tribute to Ratan Tata in a post on X (formerly Twitter) Bahl wrote, “A lot is deservedly said and will be said about Mr. Tata’s greatness. What must also be spoken about is his incredible sense of humour. This moment will always be special for me 🙏” He shared a video with the post from a event in Mumbai some years ago.
In the video, Bahl remembered his first meeting with Ratan Tata, chairman emeritus Tata Sons. He said that was so nervous as he did not know what to expect. “It is like meeting someone who you have seen over the years on TV, newspapers.. never thought would meet in flesh and blood. I was extremely nervous. I walked into Tata’s office and he actually pulled a chair and sat next to me and said, “your growth story is amazing, how do you do your logistics?,” recalled Bahl in the video shared with the post.
Bahl said that when he asked Tata what got him even thinking about investing in young startups like his or others, Ratan Tata said that he was as nervous sitting six inches away from him as he was.
When Ratan Tata told Kunal Bahl: I remember I still owe you that trip
In a column in Economic Times, Bahl has shared another anecdote that he wrote struck him about his personal touch. “At the end of my first meeting with him when he decided to invest in Snapdeal, I requested that he come and speak with our team, a gesture that would have meant the world to everyone at the company. While logistics ultimately prevented that visit from happening, he didn’t forget the promise. A couple of years ago, nearly 8 years after the first meeting, I met him at a wedding. He smiled, and the first thing he said was: “I remember I still owe you that trip.” That moment encapsulated who Mr. Tata was: a man of his word, deeply connected with people at all levels, and never too distant to acknowledge even the smallest of interactions.”
Ratan Tata’s investment in Indian startups
Ratan Tata reportedly invested in over 50 startups, both in India and internationally. The names include Ola, Upstox, Lenskart, CarDekho, FirstCry, Paytm, and Bluestone. Most of his investments were channeled through his personal investment firm, RNT Associates, as well as UC-RNT, a fund established in collaboration with the University of California. Before his demise, Tata exited from some ventures, including Lenskart and FirstCry, as well.
