Digital
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Tata Digital to integrate assets BigBasket, 1mg and Cliq under Tata Neu app
According to the company this will increase efficiency in operations.
As per reports, Tata Digital’s flagship digi-asset BigBasket is looking to raise around $100 million in funding from its parent Tata Sons. (Image source: Moneycontrol)
Tata Digital is thinking about combining the operational structures of its standalone apps such as BigBasket, 1mg, and Tata Cliq, under the Tata Neu super-app. According to the company this will increase efficiency in operations.
As per reports, Tata Digital’s flagship digi-asset BigBasket is looking to raise around $100 million in funding from its parent Tata Sons.
The additional funds will help BigBasket expand its presence in the already competence quick commerce market, and stand-out amongst competitors like Zepto, Blinkit, Swiggy’s Instamart and more. Further, it will also help the online grocer take one step closer to maintain profitability.
As per reports, Tata’s 1mg too will be seeking financial aid very soon.
Recently, Pratik Pal, who led Tata Digital, a company that operates Tata Neu super app, has moved on from the company. Naveen Tahilyani will step into the shoes of Pal as CEO. Tahilyani is currently the CEO and managing director of Tata AIA Life Insurance Company, and his role at Tata Digital will become effective beginning February 19.
SPOTLIGHT
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