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Tag: Titan

Titan acquires 10% Stake in CueZen for Wearable Tech
ACQUISITION

Titan acquires 10% Stake in CueZen for Wearable Tech

15th December 2023, Calif.: Leading lifestyle company Titan Company announced that its subsidiary, TCL North America, has entered into an agreement to acquire a 10 percent stake in CueZen, a Delaware Corporation. Through a Series Seed Stock Purchase Agreement, TCL North America will subscribe to Series Seed Preferred Stock in the Common Stock, resulting in a fully diluted ownership of 10 percent in CueZen. The transaction is valued at $3.5 million and is expected to be completed by December 31, 2023. This investment is a strategic move for TCL North America to explore the potential technologies offered by CueZen in its smart wearable business. In November, Titan Company, owned by Tata, reported a 9.7 percent YoY increase in net consolidated profit to Rs 916 crore during the September q...
Bhavin Turakhia Led Titan raises $30mn from WordPress Parent Company
FUNDING

Bhavin Turakhia Led Titan raises $30mn from WordPress Parent Company

Dubai, 4t Aug 2021: Titan, a professional email startup founded by serial entrepreneur Bhavin Turakhia has secured a USD 30 million (about Rs 222.7 crore) investment from Automattic, the parent company of WordPress.com. This is the largest investment made by Automattic and values Titan at USD 300 million. "(The investment has been made) with the goal of jointly working with us in a deep strategic relationship to both enable Automattic users to benefit from Titan and vice versa, as well as to work with us to achieve this vision of creating an outstanding email product for professionals and business users," Turakhia told Pixr8 News in a virtual briefing. He added that people signing up on Wordpress.com with Automattic for a WordPress hosting website will have the ability to use Tit...
Titan increases stake in CaratLane
BUSINESS

Titan increases stake in CaratLane

Tata group firm Titan has increased stake in its jewellery subsidiary CaratLane to 69.47 percent with an investment of Rs 99.99 crore. "In response to offer of shares made by Carat Lane Trading Private Limited, a subsidiary of the company, the company has subscribed to 30,48,780 additional equity shares of CaratLane thereby increasing its stake in CaratLane on March 30, 2019," Titan said in regulatory filing on Sunday. CaratLane is in the business of manufacturing and sale of precious and semi-precious jewellery through its e-commerce business and also through retail showrooms. "...the shareholding of the company in CaratLane has increased from 66.39 per cent to 69.47 percent," the company said. CaratLane registered a revenue of Rs 292.5 crore for the year ended March 2018. ...
Titan Sets 50000 Crore Gross Revenue Target
BUSINESS

Titan Sets 50000 Crore Gross Revenue Target

Titan, Tata Group’s daughter company announced that it is targeting a gross revenue of Rs 50,000 crore by FY 22-23 and is forecasting its jewelry business to keep driving the sales of the company. “Titan now aspires to touch 50 million customers across all its businesses and achieve the UCP (Uniform Consumer Price) revenue of Rs 50,000 crore by 2022-23,” Titan Company Ltd released in a BSE filing. Therefore, the jewelry business will remain the major driver of revenues of the company. The target revenue is Rs 40,000 crore that will allow Titan to own about 10% of the jewelry market share. UCP is a synonym for Maximum Retail Price (MRP) of the products for sale. UCP revenues refer to the sum total of the MRP from all the items sold by the firm and includes discounts, channel and fr...
IoT Startup CoveIoT Raises Funding From Titan
FUNDING

IoT Startup CoveIoT Raises Funding From Titan

Titan Company Ltd, an Indian luxury goods company; a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation, has recently invested in a wearable IoT startup CoveIoT as per the reports by a financial daily. The amount that has been invested is expected to be between $3-5 million, marking the first such investment by the giant in IoT space. The development will be used to develop the product and its R&D, analytics etc. Also Recommended New Samsung Ad Is Something iPhone Users Cannot Tolerate     Twitter Says Trump’s Account Deactivated By Employee Leaving Company   COVE is a registered brand of KaHa Pte Ltd, and is an end to end SMART IoT wearables platform that is a single window to brands to launch range of sma...
Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition
ACQUISITION

Rs 357 crore for 62% – Titan Will Pay to Caratlane For Acquisition

As per the filing report,  Jewellery-to-eyewear lifestyle company Titan Company Ltd also an entity of Tata's Group would pay Rs 357.34 crore to acquire a 62 percent stake in Chennai-based Carat Lane Trading Private Limited, the parent entity of the jewellery etailer CaratLane.com. In May, Titan Company acquired a majority stake in CaratLane.com. The Company is acquiring 19,142,545 shares in the parent entity. Caratlane raised over $50 million in funding from Tiger Global Management. Carat Lane Trading Private Limited, which is involved in designing, manufacturing, trading and retailing of gems and jewellery, clocked revenues of Rs 141 crore for the financial year 2015-16. Its revenues in the preceding two consecutive fiscals were Rs 127 crore and Rs 101 crore, respectively. Titan ...