Are you curious about the driving force behind India’s booming start-up industry?
Look no further than Mukesh Ambani, a name synonymous with innovation, vision, and colossal investments. With his visionary approach and deep pockets, Ambani has made a remarkable impact by injecting an astonishing INR 7,000 crore into Indian start-ups. His strategic investments have not only provided crucial financial support but also propelled these ventures towards unprecedented growth and success.
In this article, we dig into the 8 remarkable start-ups that have received Ambani’s backing, fueling their growth and contributing to the transformation of India’s start-up ecosystem.
Get ready to be inspired and amazed by the power of one man’s vision!
8 Startups Invested by Mukesh Ambani
1. Dunzo
In January 2022, Dunzo, a prominent delivery app, secured a significant investment of INR 1490 crore from Reliance Industries. This substantial infusion of funds resulted in Reliance Industries acquiring a 25.8% stake in Dunzo. As Dunzo operates in a competitive market, it faces notable rivals such as Amazon and Swiggy Instamart.
2. Aesteria
Reliance Industries Ltd, the prominent conglomerate, has made a significant acquisition by securing a majority stake of 51.78% in Asteria, a Bengaluru-based startup. This equity share, valued at INR 23.12 crore, solidifies Reliance’s presence in the robotics and artificial intelligence (AI) sector. Asteria has gained recognition for its expertise in developing drones, specifically tailored for deployment by India’s military, paramilitary, and police forces.
3. Jio Saavan
In March 2018, Reliance made a notable acquisition by purchasing Saavn for a substantial amount of $104 million. Following the acquisition, Reliance merged Saavn with its existing digital music service, Jio Music, creating a synergistic powerhouse in the music streaming industry.
4. NowFloats
In 2019, Reliance Strategic Business Ventures Limited, a subsidiary of Reliance Industries, acquired NowFloats Technologies, a homegrown SaaS start-up based in Hyderabad. The acquisition, valued at INR 141 crore, marked a significant milestone in the growth of NowFloats, aligning it with the strategic vision of Reliance Industries in the technology sector.
5. Netmeds
In August 2020, Reliance Retail Ventures, a subsidiary of Reliance Industries, made a significant move by acquiring a majority stake in Vitalic for INR 620 crore. Vitalic is the parent company of Netmeds, a prominent online pharmacy delivery startup. This strategic acquisition marked Reliance’s entry into the e-pharmacy space, expanding its presence in the retail sector and positioning it to tap into the growing demand for online healthcare services.
6. Addverb Technologies
Addverb Technologies, a technology company specializing in the implementation of robotic solutions, has been making significant strides in enhancing e-commerce, warehouse management, and energy production. In January 2022, the company received a substantial investment amounting to approximately INR 984 crore. The substantial investment in January 2022 has empowered Addverb Technologies to drive innovation and revolutionize industries through robotics.
7. Urban Ladder
In November 2020, Reliance Retail made a significant move by acquiring a 96% stake in UrbanLadder, with an investment of around INR 182 crore. This strategic investment showcased Reliance’s commitment to expanding its presence in the retail sector and capitalizing on the growing e-commerce market. The acquisition allowed Reliance to strengthen its position in the furniture and home decor segment, leveraging UrbanLadder’s expertise and established brand presence.
8. Grab a Grub Services
Reliance Industries, the conglomerate, recently acquired a majority stake of 83% in Mumbai-based hyperlocal logistics startup Grab a Grub Services. The deal was valued at Rs 146 crore, further expanding Reliance’s presence in the logistics sector. This strategic investment positions Reliance Industries to capitalize on the growing demand for efficient last-mile delivery services.
Conclusion
Mukesh Ambani’s INR 7,000 crore investments in seven start-ups showcase his unwavering commitment to driving innovation and fueling India’s entrepreneurial spirit. These ventures are poised to disrupt industries, create jobs, and empower communities, making a transformative impact on the country’s economic landscape. Ambani’s visionary investments inspire aspiring entrepreneurs and highlight the immense possibilities for future growth.
Also Read: 7 Indian Startups Making Waves In ‘Web3’ Space
