Tata Group to invest $2 billion more in Tata Neu

24 Mar 2023 , 02:46 AM

According to insiders familiar with the matter, Tata Group, the Indian conglomerate, is contemplating an additional investment of $2 billion in its super app venture to strengthen its digital operations.

As per the report, the proposed investment would aid Tata Neu, the group’s online platform, in fortifying its digital portfolio, addressing technical issues, and catering to any potential future expenditures.

If the deal goes through, the injection would take place over a two-year period.

The report further stated that Tata Group has tasked its digital arm, Tata Digital, with exploring opportunities to increase the valuation of the super app.

In an attempt to capture a share of the rapidly expanding market that is currently dominated by e-commerce giants like Amazon.com and Walmart’s Flipkart, Tata Group launched its e-commerce super app in April last year, which provided a wide range of offerings, including clothing and air tickets.

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