Veteran industrialist Ratan Tata has invested in Mailit, a technology-driven mailroom management and logistics company.
While the financial details of the investment were not disclosed, Mailit said it plans to launch 500 mailrooms across India in addition to establishing fully mechanised warehouse and distribution centres in the next five years.
Mailit offers courier, cargo, 3PL, mail room management digital solutions and postal services to leading corporates and several blue chip companies in the Tata Group.
His strategy focuses on building India's first digitally Integrated Logistics & Mailroom Solutions (IL&MS) platform bringing much-needed consolidation, enhanced efficiency and visibility to a fragmented market place, a statement said on Wednesday.
Mailit will focus on consolidating the entire value chain bringing seamless end-to-end distribution with real-time visibility, thereby reducing the overall logistics and distribution costs, it added.
"With the government reiterating its commitment to strengthening the infrastructure sector, Tata believes the Mailit IL&MS platform will bring in cost optimisation, build operational efficiencies in the supply chain and create employment opportunities across India," it said.
Mahesh Shirodkar, founder and CMD of Mailit, said the investment by Tata "opens up a wider growth prospect" for the company.
"We intend to scale up the operations across geographies. With our state-of-the-art operations and trained professionals backed by the use of the most innovative technologies available today, Mailit expects an upward trajectory from here on," he added.
The Tata Sons chairman emeritus has been aggressively investing in start-ups, ranging from e-commerce firms, pet care companies to cab aggregators. In the past, he has backed companies like Snapdeal, Kaaryah, DogSpot, Urban Ladder, Bluestone, CarDekho, Sabse Technologies, Xiaomi and Ola.
After stepping down as Chairman of Tata Group on December 28, 2012, Ratan Tata has been on an investment spree in his "personal capacity". He has emerged as the new venture capital fund for emerging start-ups in the country.
An investment from the Tatas gives a boost to startups in terms of publicity, acquiring finances, and brand-building. Some of the startups that Ratan Tata has funded over the years include: Snapdeal, Paytm, Ola, CarDekho, Holachef, FirstCry, Lenskart, NestAway, Urban Ladder, GOQii, Xiaomi, BlueStone among others.
Just like the salt to software conglomerate that he headed, Tata's investments also encompass a wide range of sectors, from health to women empowerment to technology.
"What I look at while investing in startups is the quality and intelligence of the entrepreneurs,” Tata had said this few years ago explaining his investment rationale after joining Kalaari Capital, a venture capital fund, as an advisor.
(With Input from Agencies)