Indian startups including Ola, Paytm, others mourn demise of Ratan Tata

Tata, after taking a personal interest in Agarwal's journey, decided to invest in Ola in 2015, as per Bhavish, Tata was also the inspiration behind Ola Electric

A mentor, guide, legend and hero is how Indian startups on Thursday remembered business magnate and chairman emeritus of Tata Group Ratan Tata, who passed away at the age of 86, with some describing his demise as a personal loss.

Over the last decade, the silver-haired tycoon has backed as many as 40 Indian startups, including Paytm, Ola and Snapdeal, according to data from market intelligence platform Tracxn – another company backed by Tata.

Ola founder Bhavish Agarwal, who considered Tata his hero, took to social media platform X to extend his condolences.

“I’m at a loss with Ratan Tata Sir’s passing. His loss feels so personal because it is for me. He was my hero growing up, like for so many others. I consider myself blessed to have gotten the opportunity to know my personal hero deeply over the last decade,” he said.

Tata, after taking interest in Agarwal’s journey, decided to invest in Ola in 2015. According to Agarwal, Tata was also the inspiration behind Ola Electric.

"In 2015, I got the chance to meet Mr Tata and he decided to invest in Ola. But my interactions with him didn’t end there. They had just begun! Mr Tata was like no other business leader I have ever met. He took personal interest in my journey. And in every interaction there was grace, humility, curiosity and a world of learning for me. In 2016, I invited him to come to Bengaluru and address my whole company. I thought a person of his stature would politely decline but he actually took a full day out, flew to Bengaluru and spent the entire day with my team and company!," he said.

Tata was also one of the early backers of payments platform Paytm. Starting out as a mobile recharge platform, Paytm went on to lead a digital revolution in the country and became the fintech major that it is today.

Paytm founder Vijay Shekhar Sharma referred to Tata as a legend who will inspire every generation. “Entrepreneurs of the next generation will miss interacting with the most humble businessman of India,” he said.

Snapdeal co-founder Kunal Bahl also shared his condolences for the business tycoon.

“India has lost one of its greatest titans, a true statesman of industry. Mr Ratan Tata was more than just a business leader. His compassion, humility, and kindness inspired millions. His legacy will live on forever,” Bahl said.

Tata’s other startup investments include those in eyewear brand Lenskart, baby products brand Firstcry, services platform Urban Company, and business-to-business (B2B) marketplace Moglix, among others.

Abhiraj Singh Bhal, co-founder and CEO of Urban Company, referred to Tata as an “embodiment of all the values which India and Indians should strive for - humility, integrity, service before self, trusteeship, excellence, grace, conscious capitalism and love for nation.”

“In our very first meeting with him back in 2015, he told us, ‘India needs what you are building, keep the quality high and the rest will follow’. We at Urban Company were fortunate to have him join us subsequently as a shareholder, and derive immense inspiration from his words and the values he stood for,” said Bhal.

Neha Singh, co-founder, Tracxn, said that Tata’s passing was a deeply personal loss for the company.

“He was not only one of our earliest investors, but also a remarkable mentor whose support spanned many years. Our first meeting with him extended beyond the scheduled time, as he engaged deeply with our business, showing an unmatched curiosity and enthusiasm. His decision to invest in us was a moment of great pride, reinforcing the importance of our work and leaving us truly humbled by his attention to detail and genuine interest,” she said.

Rahul Garg, CEO and founder, Moglix, said “His dedication, passion and vision for the country was unparalleled. I was fortunate to have him as an investor, mentor, and guide. His unwavering support for Moglix and building a self-reliant India will forever inspire us.”

“We will honour his legacy by continuing to work towards his vision of a stronger Aatmanirbhar Bharat. His wisdom and guidance will be deeply missed, but his impact will endure,” he added.