Latest posts by TheStartupMojo (see all)
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One of the leading conglomerates of the Indian Business Ecosystem Tata Emeritus Group is seemingly trying to get its foothold in ecommerce segment in whichever form it could. The Ecommerce Industry seems to be the most monetarily pampered business segment with behemoths like Alibaba, Amazon and Flipkart trying to onboard the next set of 200 million consumers looking to buy goods online post mobile internet penetration, thanks to Jio by Reliance group!
Tata group has reportedly acquired GrocerMax which is an online grocery store. Recently speculations around Amazon buying out Big Basket also surfaced. While on the other hand Big Basket raised debt funding from Trifecta Capital recently. Big Basket hasn’t been able to sustain its business. The company has been seeking investments for around $100 million in the recent past, however was unable to close anything near to that. To keep up the operations and the growing demands served, the company has raised debt from Trifecta Capital.
In the deal, Tata Group will acquire the management team as well technology infrastructure of GrocerMax. Also as a part of the strategic move, it will also shut the operations of GrocerMax in Gurugram. This acquisition is to set up the base for an online platform for Trent Hypermarket. Trent Hypermarket is a joint venture between Tata Group and UK retailer – Tesco. Tata Group and Tesco run three formats which include Dailies, Market, and Hyper.