India's Tata Group mulls pumping $2 billion into super app venture -Bloomberg News


FILE PHOTO: The logo of Tata Group is seen at a business meeting organised by the Confederation of Indian Industry (CII) in New Delhi March 23, 2009. REUTERS/Vijay Mathur

BENGALURU (Reuters) -Indian salt-to-software conglomerate Tata Group is considering injecting another $2 billion into its super app venture to bolster its digital business, Bloomberg News reported on Thursday, citing people familiar with the matter.

The funds would help the group's online platform Tata Neu strengthen its digital offerings, fix technical glitches, and meet any new spending needs, the report said.

The injection would take place over two years if the deal goes through, it added.

Tata Group has also asked Tata Digital to look for ways to boost the valuation of the super app, according to the report.

A Tata Group spokesperson and Tata Digital declined to comment on the report.

Tata launched the e-commerce super app in April last year, offering everything from apparel to air tickets in a renewed push for a slice of a fast-growing market dominated by Amazon.com and Walmart's Flipkart.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza and Varun H K)

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