Tata Sons chairman N Chandrasekaran had reportedly met global investors during his visit to the US in May
Tata Sons are getting to raise $2-2.5 billion for its digital business because it works on the launch of its super app.
Tata Sons chairman N Chandrasekaran had met global investors during his visit to the US in May, The Economic Times reported.
The conglomerate might initially raise funds from private equity firms, then search for strategic investors after scaling up the business, the report said.
The report comes around a fortnight after Tata Digital said it’ll invest up to $75 million in CureFit Healthcare. CureFit founder Mukesh Bansal has been appointed because of the President of Tata Digital.
Tata Sons didn’t comment when contacted by The Economic Times.
Bansal, BigBasket founder Hari Menon and Ankur Verma of Tata Sons recently joined the board of Tata’s digital health platform 1MG.
“The reason behind investing in Curefit was that Tata will get to cause board Bansal as they push their fundraising efforts and make him the face to usher in technology investors,” a source told The Economic Times.
Tata Digital’s board is going to be reconstituted with Chandrasekaran as chairman after the fundraising takes place, officials said.