Ratan Tata invests in packaging startup Bollant Industries.
It is not just tech related startups in India that are raising funding. The Emeritus of Tata Sons, Ratan Tata, who has emerged as a prolific angel investor, and has backed over two dozen firms, has now invested in Bollant Industries that makes disposable paper cup and packaging material, while Gati Ltd said the company will soon make strategic investments in logistics startups.
Ratan Tata invests in packaging startup Bollant Industries
Ratan Tata has invested in undisclosed amount in Bollant Industries Ltd, The Hindu Business Linereported.
This is the ninth known investment by Tata since Jan this year.
Hyderabad-based Bollant makes disposable paper cup and packaging material. The company was founded in 2012 and was earlier known as Aasadeep Projects Pvt Ltd.
The company has four production facilities, one each in Karnataka and Nizambad, and two in Hyderabad.
It counts Ravi Mantha and SP Reddy (TiE- Global Entrepreneurship Organization), Kiran Grandhi (GMR Group), Satish Reddy (Dr Reddy’s), Anil Chalamalasetty (Greenko) and Arun Alagappan (TI Cycles) as its shareholders.
On Monday, Jungle Ventures-backed retail tech firm Snapbizz had announced that it had bagged funding from chairman Emeritus of Tata Sons, Ratan Tata.
His other most recent investments of the year include online B2B marketplace Moglix and Delhi-based Invictus Oncology.
This article was first published on DealStreetAsia.