Mukesh Ambani’s Reliance Industries Limited has charted its course into numerous sectors by acquiring various startups. Here is the list of the top 10 startups acquired by Reliance.
Top 10 Startups Acquired by Reliance
Embibe
Reliance invested in Embibe in April 2018, a startup in ed-tech, over three years for $180 million and acquired a 72.69% stake. In April 2020, Reliance Industries invested INR 500 crores in Embibe. Embibe is a data analytics-driven education platform that offers personalized learning results. It ranks among the top 10 startups acquired by Reliance.
Fynd
Fynd, another acquired startup, was acquired by Reliance from Shopsense Retail Technologies Pvt. Ltd. for INR 295.25 crores. Fynd is a fashion e-commerce platform that operates on an offline-to-online business model. It has also introduced a product called Fynd Store.
Grab
Reliance Industrial Investments and Holdings Limited acquired equity shares of Grab A Grub Services Private Limited in a cash deal worth $14.9 million. This investment supports Reliance’s digital commerce initiatives and strengthens its logistics services. It is one of the top 10 startups acquired by Reliance.
Haptik
Reliance Jio Digital Services Limited acquired artificial intelligence (AI) firm Haptik for INR 700 crores. Haptik is a conversational AI platform that enables users to complete tasks through voice assistants, enhancing Reliance Jio’s digital offerings.
Reverie
Reliance acquired a majority stake in Reverie, a company specializing in Indic language localization services. The investment aims to integrate Reverie’s solutions with RIL’s digital consumer platforms. It is one of the top 10 startups acquired by Reliance.
Saavn
Reliance announced a strategic merger of JioMusic with ‘music over-the-top platform’ Saavn, acquiring a majority stake in the merged entity. This move underscores Reliance’s commitment to boosting the digital entertainment ecosystem.
Clovia
Acquisition of an 89% stake in Clovia by Reliance Retail Ventures. Clovia is a leading lingerie retailer in India. The partnership is expected to help Reliance establish a strong presence in the innerwear market. It is among the top 10 startups acquired by Reliance.
Tesseract
Reliance buys a 92.7% stake in Mumbai-based VR startup Tesseract. Reliance continues to be actively involved in the acquisition of companies that may synergize with its businesses. The company focuses on emerging technologies such as mixed reality.
Den Networks and Hathway Cable & Datacom Ltd.
Reliance Jio acquired a majority stake in Den Networks and Hathway Cable & Datacom Ltd. The above-mentioned acquisitions were made by the company to expedite the rollout of Jio GigaFiber, which would help Reliance gain a competitive edge.
Netmeds
The majority stake in online pharmacy Netmeds was acquired by Reliance Industries. Reliance Retail purchased a majority interest in online pharmacy Netmeds to improve the pharmacy segment of its healthcare businesses. The list of top 10 startups acquired by Reliance sums up here.
FAQs
Why is Reliance acquiring startups across various sectors?
Reliance is strategically diversifying its business portfolio and strengthening its market presence through these acquisitions, aligning with its vision for growth and innovation.
How do these acquisitions benefit Reliance?
Acquiring startups grants Reliance access to new technologies, talent, and market insights, facilitating product enhancement and operational efficiency improvements in its digital and new commerce initiatives.
