Tata Group’s former Chairman and now an aggressive angel investor Ratan Tata has made his 30th investment. Tata has invested in Teabox, an online start-up selling premium teas.
Teabox, which was founded in 2012, has so far raised $7 million, $6 million of which were raised from investors that included Texas billionaire Robert M Bass and Accel Partners in the last round in 2015.
This investment resonates with Tata's personal liking towards the tea segment. Tata, during his tenure as Chairman of Tata Group, was a brain behind the acquisition of UK’s iconic brand Tetley by Tata Tea. Under his chairmanship, Tata Tea saw several other acquisitions and transformed into what is called Tata Global Beverages.
Ratan Tata’s investments include stakes in three of India’s start-ups worth more than $1 billion — ride-hailing app Ola, online retailer Snapdeal and mobile payment venture Paytm. He has also put money into Chinese smartphone-maker Xiaomi Corp. Separately, he has joined three venture capital firms — IDG Ventures, Kalaari Capital and Jungle Ventures — as adviser. “We’re very excited because it’s a validation of our business from one of the most iconic businessmen of India,” said Teabox founder and Chief Executive Officer Kaushal Dugar.
Teabox works with 150 plantations in Darjeeling, Assam and Nepal. Teas go to the firm’s cold storage within 48 hours of production where they are vacuum packed and shipped to customers around the world in about a week, according to Dugar. Traditionally, it takes 3-6 months for the teas to reach consumers.