Mumbai Capital

Ratan Tata invests in UrbanClap

Ratan Tata has made an undisclosed investment in UrbanClap, a marketplace to hire professionals for over 80 services, such as plumbers, electricians, beauticians and yoga trainers.

The company is operational in six cities – NCR, Bengaluru, Mumbai, Chennai, Pune and Hyderabad.

The company was founded in 2014 by Bhiraj Bhal, Varun Khaitan and Raghav Chandra and counts Snapdeal founders Kunal Bahl and Rohit Bansal among its early investors. Ratan Tata is also an investor in Snapdeal.

In November, UrbanClap had raised $25 million in a Series-B round of funding led by Bessemer Venture Partners. Existing investors SAIF Partners and Accel Partners had participated in that round.

UrbanClap said it saw backing from Ratan Tata as a testament to both the size of the market opportunity and the calibre of its team.

Ratan Tata has been on an investment spree in the Indian startup ecosystem. Tata Trusts recently tied up with Khan Academy to make education free and accessible to more Indians. He also recently invested in big data startup Crayon Data.

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Printable version | Apr 16, 2021 5:24:53 PM | https://www.thehindu.com/news/cities/mumbai/business/ratan-tata-invests-in-urbanclap/article7973995.ece

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