Ratan Tata, chairman emeritus of Tata Sons, has made an investment in Chinese smart devices-maker Xiaomi, the first investment by any Indian in the company. However, the details have not been revealed. Xiaomi had six rounds of funding to date and had raised over $1 billion from investors including GIC valuing the company at over $45 billiion.
Indian billionaires are increasingly investing in mobile and internet technology ventures. Ratan Tata had invested in mobile payments and commerce venture Paytm, picking up a small stake in One97 Communications, which owns the company. Earlier, Ratan Tata had invested in e-tailer Snapdeal in his personal capacity. Tata's previous investments in India's consumer internet sector include Urban Ladder, Bluestone and CarDekho.