Tata Neu’s launch comes against the backdrop of the IPL being in full swing where Tata is also the Title Sponsor
Tata Neu offers a wide range of services including UPI payments, hotel or flight booking and shopping for groceries, electronics and medicines, among other services
The app showcases features such as scan and pay, transfer money to banks, pay bills and raise microfinance
Tata Digital has officially unveiled the much-awaited super app, Tata Neu, on Android as well as iOS. Tata Neu offers a wide range of services including UPI payments, hotel or flight booking and shopping for groceries, electronics and medicines, among other services.
The app also rewards 5% of the amount as NeuCoins every time one makes a purchase where One NeuCoin equals Re 1, which users will be able to redeem for shopping or any service in the future.
Neu’s launch comes against the backdrop of the IPL being in full swing where Tata is also the Title Sponsor, along with a bunch of 29 startups. With people back in the stadiums, Tata is banking hard on IPL’s popularity to get early-stage momentum for the super app.
The momentum seems to have been a problem, as the app is facing some glitches at the moment. It is also noteworthy that while the app may take time to load on Android (and is tough to download on iOS), it gathers information such as address and history from the accounts of the Tata Digital family of apps such as BigBasket, 1mg and Croma.
The Family Of Tata Neu Apps
Inc42 reported last year that Tata Digital will roll out a super app platform, called Tata Neu, that will consolidate multiple digital entities under the Tata umbrella into a super app offering after Reliance started a similar consolidation with its flagship venture Jio Platform.
For Tata Neu, Tata Digital had acquired several companies, including Grameen eStore, Urja, AccessBell, 1mg, BigBasket, and CureFit. Recently, Tata Digital has also added Croma; the ecommerce platform Tata Cliq is already a part of Tata Digital.
Inc42 also provided a sneak peek into the app prior to its launch. True to the peek, the super app showcases features such as scan and pay (an option that allows users to pay through UPI), send money to transfer money to banks, pay bills to pay broadband bills, electricity, piped gas, landline, mobile postpaid, and water through Bharat Bill Pay and recharge their DTH and mobile networks and Finance where users can apply for Tata Capital’s Qik EMI card for up to INR 1.5 Lakh. The option also allows users to get insurance on their credit cards and home belongings.
Tata Neu allows users to browse through and make purchases from different categories such as grocery, electronics and clothing among others. One can browse Tata Sky to avail of entertainment services and watch the IPL live on the app.
Further, a ‘Stories’ feature provides micro-articles for short reads on various topics such as cricket, fashion, travel food and gifting guides, while providing a how-to guide on how to operate the Tata Neu app.
“As the Tata Neu app goes live today, it makes me proud to see so many of our trusted and loved brands Air Asia, BigBasket, Croma, IHCL, Qmin, Starbucks, Tata 1Mg, Tata CLiQ, Tata Play, Westside on the Tata Neu platform already, and Vistara, Air India, Titan, Tanishq, Tata Motors soon to join,” Tata Sons chairman N Chandrasekaran highlighted in a LinkedIn post.
Tata Digital, which has developed Tata Neu, was recently reported to have asked its parent company Tata Sons for funding to the tune of $500 Mn as working capital funds. Last October, Tata had plans to raise $5 Bn in an institutional equity round and was reportedly in talks with CPPIB, Singapore’s Temasek Holdings, SoftBank Group and Abu Dhabi Investment Authority.
Tata Digital has estimated a valuation of more than $18 Bn for the digital entity. After Tata Group had said that it will make an ‘interim investment’, Tata Digital looks to have solved most of the issues with Tata Neu and has deemed it good enough for a public rollout.