Mukesh Ambani goes on a shopping spree

Ambani’s shopping cart
Ambani’s shopping cart
It seems that nothing can hold back the fifth richest man of the world, Mukesh Ambani and his company Reliance Industries. After investing in startups like Haptik, Asteria Aerospace and NowFloats Technologies, this billionaire wants to invest in more startups. Here's a look at the startups Mukesh Ambani's company plans to invest in.
Plans to acquire Urban Ladder
Plans to acquire Urban Ladder
Reliance Industries is in talks to acquire online furniture brand Urban Ladder. The discussion with this startup has been happening for the past few months and the deal can be pegged at around $30 million according to sources. The company plans further infusion in the business and earn-out for the management team. This startup was founded in 2012 by Ashish Goel and Rajiv Srivatsa (in pic).
Let's add some milk in the basketiStock
Let's add some milk in the basket
The Covid-19 pandemic has led to a significant number of people ordering groceries, and daily essentials online. With an eye to strengthen its ecommerce game, Mukesh Ambani's company is in talks with milk delivery startup Milkbasket. If this deal becomes a reality, it will strengthen JioMart's customer base. Milkbasket was in talks with BigBasket and Amazon India but nothing came out of these discussions. BigBasket held talks with Milkbasket, looking at a valuation of under $15 million in March. While that deal didn't work out, BigBasket acquired DailyNinja to boost their subscription-based morning delivery business BB Daily.
Say yes to e-pharmaiStock
Say yes to e-pharma
This comes at a time when the Mukesh Ambani-led conglomerate is also said to be in talks to acquire players like e-pharmacy startup Netmeds and lingerie retailer Zivame, even as it scripts consolidation with Future Retail. Amazon has also forayed into the online pharmacy space in India and will be up against several homegrown players. Amazon's services have currently gone live in Bengaluru.
Betting on ed-techiStock
Betting on ed-tech
While the pandemic raged in April, RIL invested an additional Rs 500 crore in education startup Embibe. This investment was after Ambani had invested Rs 90 crore in the same startup in February this year. Reliance had acquired s73% stake in the Artificial Intelligence powered learning platform in 2018. The edtech sector has seen a big boom since the pandemic led to lockdown and closure of schools around the country.
Getting hold of the aerospace
Getting hold of the aerospace
Reliance Strategic Business Ventures Ltd invested Rs 23.12 crore in Bengaluru-based drone startup Asteria Aerospace. This gives RIL a 51.78% holding in Asteria Aerospace. Reliance plans to invest a further Rs 125 crore in the drone startup. The investment is expected to be completed by December 2021 and will increase Reliance's shareholding to 87.3%. Asteria provides drone-based services to survey, inspect and monitor assets in industries such as oil and gas, mining, construction and agriculture. It also works in the security and surveillance sector, supplying drones to military, paramilitary and police forces. (Pic: Asteria Aerospace/Facebook)
A deal with HaptikThinkStock Photos
A deal with Haptik
In the last two years, Mukesh Ambani has picked up stakes in over 20 startups and about half-a-dozen small companies including artificial intelligence platform Haptik in a Rs 700 crore deal. Haptik is one of the world's largest conversational AI platforms and counts Samsung, Coca-Cola, Future Retail, KFC, Tata Group, Oyo Rooms and Mahindra Group among marquee clients. In March 2019, Reliance Jio announced integration of its digital music service, JioMusic, and OTT platform Saavn that powers Amazon Alexa in India. The combined entity, valued at over $1 billion, then brought in JioSaavn to compete with the likes of Amazon Music, Apple Music and Gaana.
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