Industrialist and investor Ratan Tata has added one more start-up to his portfolio of digital start-ups and has invested an undisclosed amount in online coupon and cash back venture CashKaro.com, the company informed in a press release on Tuesday.
Tata has made the investment in his personal capacity, the company informed.
"The funding from Mr. Ratan Tata marks another milestone in CashKaro's three-year journey. We are privileged to have him come on-board as an investor. An investment by him is an affirmation of the opportunity that CashKaro is addressing and the relentless efforts of the team towards building a large, valuable savings destinations," Swati and Rohan Bhargava, Co-founders of CashKaro.com said in a statement.
The investment by Ratan Tata comes close on heels of the Rs 25 crore investment made by venture capital firm Kalaari Capital in the start-up two months ago. Ratan Tata is on the advisory board of Kalaari Capital and guides and mentors its founders.
Gurgaon-based CashKaro.com works on an affiliate model and was founded by entrepreneur couple Swati and Rohan Bhargava in mid-2013. The start-up had earlier raised $750,000 in angel funding from a group of investors based in London.
Ratan Tata, Chairman emeritus of Tata Group, has been on a investing spree since early 2014 and this year itself he has put his money in three start-ups -- pet care portal DogSpot.in , research platform Tracxn and Cashkaro.
So far, his portfolio includes names like Snapdeal, Bluestone, Urban Ladder, CarDekho, Xiaomi, Zivame, Ola Cabs and many more. The size of investments by Tata vary from as small as Rs 10 lakh to Rs 10 crore, his highest known investment amount till date.