{"id":1274683,"date":"2023-10-21T08:25:04","date_gmt":"2023-10-21T02:55:04","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1274683"},"modified":"2023-10-21T08:25:39","modified_gmt":"2023-10-21T02:55:39","slug":"tata-neu-prepares-rs-8300-crore-warchest-to-fight-amazon-flipkart-reliance-in-indias-ecommerce-battle","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tata-neu-prepares-rs-8300-crore-warchest-to-fight-amazon-flipkart-reliance-in-indias-ecommerce-battle\/","title":{"rendered":"Tata Neu Prepares Rs 8300 Crore Warchest To Fight Amazon, Flipkart, Reliance In India&#8217;s Ecommerce Battle"},"content":{"rendered":"\n<p>Tata Group may put in $1 billion into its super app venture in a bid to boost its digital business.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/10\/ify-23.png\" alt=\"Tata Neu Prepares Rs 8300 Crore Warchest To Fight Amazon, Flipkart, Reliance In India's Ecommerce Battle\" class=\"wp-image-1274693\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/10\/ify-23.png 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/10\/ify-23-300x140.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/10\/ify-23-768x357.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>This is on top of the $2 billion that it had invested earlier this year.<\/p>\n\n\n\n<p><strong>Who is the recipient?<\/strong><\/p>\n\n\n\n<p>Tata Digital Pvt. will receive the new funding in the coming year if the deal proceeds.<\/p>\n\n\n\n<p>Tata Neu, India\u2019s first super app launched in April 2022 was designed after China\u2019s Alipay and WeChat.<\/p>\n\n\n\n<p>However, it suffered from technical glitches and customer complaints soon after its launch last year.<\/p>\n\n\n\n<p><strong>Investment purpose<\/strong><\/p>\n\n\n\n<p>It will go towards improving the app\u2019s <a href=\"https:\/\/www.indiatoday.in\/amp\/business\/story\/tata-group-1-billion-dollar-fresh-capital-super-app-neu-2451092-2023-10-19\">operational <\/a>efficiency and user-friendliness, ensuring a more seamless digital experience.<\/p>\n\n\n\n<p>The conglomerate has asked the digital unit, which runs its online platform Tata Neu, to streamline its operations and fix glitches in the app to make it more user-friendly.<\/p>\n\n\n\n<p><strong>Adopting Reliance\u2019s strategy<\/strong><\/p>\n\n\n\n<p>It has also urged the super-app venture to explore tapping global sovereign and financial investors for future funding needs.<\/p>\n\n\n\n<p>This would be similar to the strategy Reliance Retail Ventures has adopted, namely consistent fundraise from external sources.<\/p>\n\n\n\n<p>Qatar Investment Authority and KKR &amp; Co. in recent months invested in Reliance Retail at a $100 billion valuation.<\/p>\n\n\n\n<p>Deliberations are ongoing and details of Tata Group\u2019s capital injection could still change.<\/p>\n\n\n\n<p><strong>App offerings<\/strong><\/p>\n\n\n\n<p>The app allows users to buy groceries and gadgets as well as reserve plane tickets and restaurants from brands under Tata\u2019s umbrella.<\/p>\n\n\n\n<p>It also offers a membership service and offers financial products such as bill payments, loans and insurance.<\/p>\n\n\n\n<p>Tata Group <a href=\"https:\/\/www.bqprime.com\/business\/tata-group-mulls-topping-up-another-1-billion-for-super-app-arm\">acquired <\/a>firms including e-grocer Bigbasket and e-pharmacy 1mg to add to its e-commerce portfolio, investing more than $2 billion in the past three years.&nbsp;<\/p>\n\n\n\n<p><strong>To meet just half of sales target<\/strong><\/p>\n\n\n\n<p>It was <a href=\"https:\/\/www.businesstoday.in\/latest\/corporate\/story\/tata-group-planning-to-infuse-additional-1-bn-in-its-super-app-venture-report-402642-2023-10-19\">reported <\/a>earlier that Tata Neu is expected to meet just half of the sales target in its debut year.<\/p>\n\n\n\n<p>It will see sales of about $4 billion in the year to March 31, compared with the $8 billion target set at the beginning of 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata Group may put in $1 billion into its super app venture in a bid to boost its digital business. This is on top of the $2 billion that it had invested earlier this year. Who is the recipient? Tata Digital Pvt. will receive the new funding in the coming year if the deal proceeds. [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1274693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[105,273,394,1210],"class_list":["post-1274683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-amazon","tag-ecommerce","tag-flipkart","tag-tata-neu"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tata Neu Prepares Rs 8300 Crore Warchest To Fight Amazon, Flipkart, Reliance In India&#039;s Ecommerce Battle - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tata-neu-prepares-rs-8300-crore-warchest-to-fight-amazon-flipkart-reliance-in-indias-ecommerce-battle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tata Neu Prepares Rs 8300 Crore Warchest To Fight Amazon, Flipkart, Reliance In India&#039;s Ecommerce Battle - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Tata Group may put in $1 billion into its super app venture in a bid to boost its digital business. 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