Ola, one of the world’s largest ride-hailing platforms, on Tuesday confirmed an investment of Rs 650 crore (about $92 million) from Sachin Bansal, an internet entrepreneur and co-founder of Flipkart. This investment is part of Ola’s larger Series J funding round and is in Sachin’s personal capacity as an investor.
ALSO READ: E-truck startup Rivian raises $700 million led by Amazon
“Ola is one of India’s most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem. On one hand, they have emerged as a global force in the mobility space and on the other, they continue to build deeper for various needs of a billion Indians through their platform, becoming a trusted household name today,” speaking on his investment, Sachin Bansal.
“I have known Bhavish as an entrepreneur and as a friend over these years and I have great respect for what he and the team at Ola have built in just 8 years! I am personally thrilled to be part of the Ola journey and I look forward to contributing to their success,” Bansal.
Thrilled to be part of this journey with @bhash and the @Olacabs team. Ola is a household name today and is a global force in the mobility ecosystem. Their success is important for all of us and I’m excited about the vision they are building towards. https://t.co/xhxKL2i72L
— Sachin Bansal (@_sachinbansal) February 19, 2019
“We are extremely thrilled to have Sachin onboard Ola as an investor. Sachin is an icon of entrepreneurship and his experience of building one of India’s most respected businesses ground up, is unparalleled. His investment is a huge encouragement for all of us at Ola and our mission to serve a billion people,” said Bhavish Aggarwal, co-founder and CEO, Ola.
ALSO READ: DriveNets’ raises $110 million led by Bessemer Venture
Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola integrates city transportation for customers and drivers onto a mobile technology platform ensuring convenient, transparent, safe and quick service fulfilment.