27 January, 2016, India: Ratan Tata, Chairman Emeritus of Tata Sons has shown a keen interest in Teabox, an online startup that sells premium tea to its customers. The company has managed to raise an undisclosed amount from one of the business tycoons of the country.
This is the fifth investment in startup that Ratan Tata has made in 2016. Prior to this, Tata has invested in four other startups this year that include FirstCry, Tracxn, CashKaro and Dogspot. Teabox ventured into the market in 2012. Founded by Kaushal Dugar, it deals with 150 tea plantations in Darjeeling, Assam and Nepal. As per the officials, the tea leaves are collected and processed within a time span of 48 hours. Once the processing is done, the product is shifted to the company’s cold storage where tea is vacuum packed and shipped to the customers around the globe within a week’s time.
“We’re very excited because it’s a validation of our business from one of the most iconic businessmen of India,”said Kaushal Dugar, Founder and Chief Executive Officer, Teabox.