India’s startup ecosystem owes much of its credibility and momentum to visionary investors who believed in ideas long before they became household names. Among India’s most admired business icons, Ratan Tata stands tall not just for the scale of his startup investments, but for the transformative role they’ve played in redefining the entrepreneurial landscape of the country. Unpacking some of the most game-changing success stories he’s been a part of.
1. Ola – Redefining Urban Mobility
When Ola Cabs was still carving its niche in the Indian market and facing heavy global competition from Uber, Ratan Tata made a personal investment in 2015. His involvement wasn’t just about capital, it brought immense credibility. Ola has since grown into one of India’s largest ride-hailing platforms, expanded internationally, and launched Ola Electric, tapping into the EV revolution.
- Market Share & Revenue: Ola holds 55-60% of the ride-hailing market in India and has expanded internationally. Ola Electric, valued at $5 billion, is poised to lead the electric vehicle market.
- Valuation & Unicorn Status: Ola is valued at over $7 billion, with Ola Electric also becoming a high-growth subsidiary in the electric vehicle space.
- Growth Metrics: Ola has over 250 million users, operating in over 250 cities globally. Ola Electric has sold over 200,000 EVs and aims to increase that number to 1 million in the next few years.
2. Paytm – Championing the Digital Payment Movement
Before digital payments became a norm, Paytm was quietly building its platform. Ratan Tata’s 2015 investment came at a pivotal time. The platform skyrocketed after demonetization, evolving into a one-stop app for banking, ticketing, insurance, and more. Today, Paytm serves hundreds of millions and played a key role in shaping India’s cashless economy. Tata’s foresight in fintech paid off big time.
- Market Share & Revenue: Paytm has a 10% share of India’s mobile wallet market, with revenues crossing ₹4,000 crore in FY 2023, growing by 30-35% annually.
- Valuation & Unicorn Status: Paytm was valued at $16 billion at the time of its IPO and is one of India’s leading fintech companies, though its valuation has fluctuated post-IPO.
- Growth Metrics: Paytm has over 350 million registered users and facilitates over 10 million transactions daily, including mobile payments, insurance, and financial services.
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3. Cult.Fit – Health, Wellness & Lifestyle Reimagined
CureFit set out to make fitness and wellness more accessible and holistic. Tata backed the startup early on, impressed by its ambitious model of combining gyms, health food, therapy, and digital fitness into one platform. Despite pandemic setbacks, CureFit (now Cult.fit) pivoted with online services and has now scaled across India. It’s a top name in India’s rapidly growing wellness tech space.
- Market Share & Revenue: Cult.fit is one of India’s top fitness platforms with 10 million active users and a 25% YoY growth, reaching ₹1,000 crore in revenue in 2023.
- Valuation & Unicorn Status: Cult.fit is valued at over $2 billion and has become a leader in India’s wellness and fitness sector.
- Growth Metrics: With over 100 centers across India and expanding into digital services, Cult.fit has captured a significant portion of India’s growing fitness market, both online and offline.
4. Lenskart – Reinventing the Eyewear Experience
Lenskart disrupted a stagnant optical industry with its fresh blend of tech, accessibility, and affordability. It introduced innovations like virtual try-ons and home eye checkups, making eyewear shopping a breeze. Tata’s backing helped the startup refine its business model and expand into Tier-II and Tier-III cities. Ratan Tata’s faith in this vision was both timely and transformative.
- Market Share & Revenue: Lenskart holds 25% of the market share in India’s eyewear industry. It reported ₹2,500 crore in revenue for FY 2023 and is valued at $5 billion.
- Valuation & Unicorn Status: Lenskart achieved unicorn status with a valuation of over $1 billion in 2019 and has since become one of India’s top eyewear brands.
- Growth Metrics: Lenskart has over 6 million active users, with more than 75 retail stores across India. The company has plans to expand globally, particularly into Southeast Asia.
5. Zivame – Empowering Women Through Innerwear E-commerce
In a society where lingerie shopping was once taboo, Zivame stepped up to create a safe, private, and empowering shopping experience for Indian women. Ratan Tata’s 2015 investment not only provided funds but also legitimized the brand in the eyes of conservative consumers. Zivame normalized lingerie conversations, expanded across India, and was eventually acquired by Reliance. A standout success in the women-centric wellness and lifestyle segment.
- Market Share & Revenue: Zivame controls 30-35% of the online lingerie market in India. Its revenue crossed ₹300 crore in FY 2023.
- Valuation & Unicorn Status: Zivame’s valuation is not publicly disclosed, but it has seen significant growth since its acquisition by Reliance.
- Growth Metrics: With over 5 million customers and expansion into other women’s lifestyle products, Zivame has established itself as a leader in the intimate wear segment.
6. FirstCry – Parenting Made Easier
Tata also backed FirstCry, an online platform focused on baby products and parenting needs. As India’s birth rate fuels a booming baby care market, FirstCry has become a go-to brand for young parents. With over 400 stores and a strong online presence, the platform blends trust and convenience exactly the kind of sustainable growth Tata often supports.
- Market Share & Revenue: FirstCry holds 30-35% of the market share in the online baby care segment, with revenues surpassing ₹2,000 crore in FY 2023.
- Valuation & Unicorn Status: FirstCry achieved unicorn status in 2021, with a valuation of over $1 billion.
- Growth Metrics: With a presence in over 400 cities, FirstCry serves millions of parents and children across India. It continues to expand its offline and online footprint, offering a wide range of baby products.
Written by Pydimarri Hema Harshini
