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Reliance Industries acquires SaaS startup NowFloats

Reliance Industries has now acquired a majority stake in NowFloats Technologies, which is a Saas company that helps the small businesses to set up an online presence.

Reliance has acquired an 85% stake in the NowFloats for the INR 141.64 crore, said the announcement.

Reliance Industries revealed that the investment would even further enable the group digital and new commerce initiatives.

NowFloats was founded by the Neeraj, Jasminder, Nitin and Ronak in 2012. It offers app and web presence via its product boost, which allows the businesses to update their websites.

Its product offerings also include the online business management, website promotion, local content discovery platform and marketing solutions as well.

The company provides with the services to companies across a wide range of sectors which includes the manufacturing, beverages, hospitality, hospitals, education, clinics and food.

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