7 Startups That Mukesh Ambani Has Invested In. And Then Some More Mukesh Ambani has a major role to play in India's start up industry, having invested a whopping INR 7,000 crore in Indian start-ups.
By Entrepreneur Staff •
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66-year-old Mukesh Dhirubhai Ambani is probably the most well-known businessman in India. The powerful billionaire is the chairman and managing director of Reliance Industries, and his estimated net worth is $87.2 billion as of May 2023. Listed as one of the most influential individuals in the world by Time Magazine, Ambani has a major role to play in India's start up industry, having invested a whopping INR 7,000 crore in Indian start-ups.
Here are some of the start-ups he has invested in:
1. Dunzo
Delivery app Dunzo got INR 1490 crore investment in January 2022 from Reliance Industries, making them a stake holder of 25.8%. Among Dunzo's competitors in the market are Amazon and Swiggy Instamart.
2. Netmeds
Reliance Retail Ventures acquired a majority stake in Vitalic for INR 620 crore in August 2020. Vitalic is the parent company of Netmeds, an online pharmacy delivery startup. Reliance Retail Ventures is a subsidiary of Reliance Industries.
3. Aesteria
Reliance Industries Ltd acquired a 51.78% equity share (INR 23.12 crore) in Asteria, is a Bengaluru-based startup. Asteria is a robotics and artificial intelligence (AI) company, known for developing drones utilized primarily by India's military, paramilitary and police forces.
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4. NowFloats
The Hyderabad-based homegrown SaaS start-up NowFloats Technologies was acquired in 2019 by Reliance Strategic Business Ventures Limited, which is a subsidiary of Reliance Industries, for INR 141 crore.
5. Radisys
In June 2018, Reliance Industries acquired Radisys, a US-based open telecom platform solutions provider.
6. Addverb Technologies
Addverb Technologies is a tech company which uses robots to improve e-commerce, warehouse and energy production. Around INR 984 crore had been invested in the company in January 2022.
7. Urban Ladder
Reliance Retail took a 96% stake in UrbanLadder, investing approximately INR 182 crore in November 2020.
These aren't the only start-ups that Reliance has investments in, they have also made investments in Haptik (an AI-based conversational platform), the fashion e-commerce platform Fynd (INR 295 crore), Saavn, Tesseract, SankhyaSutra Labs, Milkbasket, Zivame and EasyGov and a few others in the last few years.
