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“Elon Musk Praised Ratan Tata’s Ambitious Nano Project” what do you think?

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Elon Musk - Startup Stories

In a resurfaced 2009 interview, Tesla CEO Elon Musk commended Ratan Tata’s Tata Nano for its innovative attempt to revolutionize affordable transportation. However, he also highlighted the challenges the project might face. Although the Nano did not sustain its early momentum and was discontinued in 2018, it remains an integral part of Tata’s legacy of bold innovation.

Ratan Tata’s Vision for the Nano

Ratan Tata, the iconic industrialist who recently passed away due to age-related health issues, leaves behind a legacy defined by compassion and innovation. One of his most ambitious projects, the Tata Nano, has gained renewed attention following Musk’s remarks. Launched in 2009 with a starting price of ₹1 lakh (around $2,300), the Nano was envisioned as the “people’s car.” Tata’s mission was to provide India’s expanding middle class with a safer, affordable alternative to two-wheelers, which were the primary mode of transport for millions.

Musk’s Praise and Insights

In an interview with TV host Charlie Rose, Musk praised Tata’s vision, describing him as a “gentleman and scholar” and calling the Nano “a good idea to have affordable cars.” Musk admired Tata’s determination to innovate in an industry known for high barriers to entry and intense competition.

However, Musk also pointed out potential challenges. He noted that while affordability was the Nano’s core appeal, other factors—such as rising fuel prices—could impact its long-term success.

“The cost of acquiring the car is much less of an issue than the cost of running the car,” Musk remarked, a foresight that aligned with some of the problems the Nano eventually encountered.

Challenges Faced by the Nano

Despite its promise, the Nano struggled with issues that tarnished its perception. It was often seen as “cheap” rather than affordable, and concerns about safety and rising fuel costs further hindered its market performance. The initial excitement surrounding its launch faded as consumers began to question its reliability and safety features.

Ultimately, these challenges led to the Nano’s discontinuation in 2018. Reports indicated that production ceased after selling just under 3 lakh units, falling short of Ratan Tata’s ambitious vision for widespread car ownership among Indian families.

Legacy of Innovation

Although the Nano did not achieve the transformative impact Tata had hoped for, it remains a symbol of his vision to make life better through accessible innovation. The project exemplifies Tata’s commitment to serving the needs of millions and continues to be remembered as a bold chapter in India’s automotive history.

Ratan Tata’s contributions extend beyond just the Nano; he played a pivotal role in transforming Tata Motors into a significant player in both domestic and international markets. His leadership saw the launch of other notable vehicles, including the Tata Indica, India’s first indigenous passenger car, which laid the groundwork for future innovations.

Conclusion

Elon Musk’s praise for Ratan Tata’s ambitious Nano project highlights both its potential and its challenges within India’s automotive landscape. While the Nano may not have fulfilled its promise as envisioned, it remains an important part of Ratan Tata’s legacy—one characterized by innovation, ambition, and a desire to improve mobility for countless Indians.

As India continues to evolve in terms of automotive technology and consumer needs, Ratan Tata’s vision will likely inspire future endeavors aimed at making transportation more accessible and sustainable for all.

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Funding

Info Edge Delivers 36% Returns on Startup Investments

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Infoedge

Info Edge, the parent of Naukri.com, has achieved a 36% gross internal rate of return (IRR) on its startup investments since 2007, turning a total investment of INR 3,959 crore across 111 startups into a portfolio now valued at INR 36,855 crore-a nearly 9X gain. Early bets on Zomato and Policybazaar have been especially lucrative, with holdings in these two companies alone worth INR 31,500 crore as of March 2025.

The company’s investment strategy spans multiple vehicles, including the SEBI-registered Info Edge Venture Fund (IEVF), Info Edge Capital, and Capital 2B, with a combined fund corpus of INR 3,423 crore and Info Edge committing INR 1,614 crore. Early-stage investments now contribute 30-40% of the company’s overall value.

Info Edge’s Alternative Investment Fund (AIF) investments have yielded an IRR of 18.7%. Many portfolio companies, such as TrueMeds, Geniemode, Attentive.ai, and InPrime, have attracted follow-on funding from major investors like Accel, Peak XV Partners, and Tiger Global. Notably, BlueStone, the largest investment of Info Edge Capital, has filed for an IPO after securing investments from Prosus, Peak XV, and Steadview Capital.

Founder Sanjeev Bikhchandani emphasized the company’s focus on strong governance and financial controls, with a preference for value realization through public listings or strategic exits.

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Phab Raises $2M Seed Funding to Expand Healthy Snacking Brand

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PHAB

Phab, the D2C healthy snacking brand co-founded by Ankit Chona of ice cream brand Hocco and his wife Gayatri Chona, has raised $2 million (around ₹17 crore) in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and angel investors.

Founded in 2018, phab offers protein bars and healthy milkshakes, leveraging Ankit’s decade-long food industry experience and Gayatri’s expertise as a certified nutritionist. The brand has sold over 2 million units and sells through e-commerce and quick commerce platforms like Amazon, Flipkart, Zepto, and Blinkit.

Despite a 12% dip in operating revenue to ₹5 crore in FY24, phab trimmed its net loss by nearly 3% to ₹6.8 crore, showing improved efficiency.

The new funds will be used to expand the team, invest in production capacity, and grow phab’s presence across digital, quick commerce, and offline channels. The brand competes with Yoga Bar, Beyond Snack, and The Whole Truth in India’s growing $68 billion healthy snacking market. OTP Ventures’ founding partner Suhail Sameer praised phab’s bold, differentiated approach and the founders’ vision, signaling strong investor confidence in the brand’s growth potential.

 

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GlobalBees CEO Nitin Agarwal Steps Down; Anuj Jain Appointed as Successor

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GlobalBee

Nitin Agarwal, cofounder and CEO of GlobalBees-the e-commerce roll-up subsidiary of FirstCry-has resigned, effective April 24, 2025, citing personal reasons. Agarwal, who helped GlobalBees achieve unicorn status within months of its 2021 founding, will support the company’s transition until May 23, 2025.

Anuj Jain, a FirstCry veteran with over 23 years of experience and a background at ITC and L’Oréal, will take over as CEO from April 25, 2025. Jain previously led FirstCry’s pre-school segment and served as Senior Vice President of Marketing at Brainbees Solutions.

Agarwal’s departure follows several recent leadership changes within the FirstCry group. GlobalBees, which invests in D2C brands across various sectors, contributed ₹1,209 crore to FirstCry’s FY24 revenue, highlighting its strategic significance. With Jain’s appointment, the company aims to continue its strong growth in the D2C space.

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