Sachin Bansal invests Rs. 650 cr in Ola
- This investment is in Sachin Bansal’s personal capacity and is also the largest investment by an individual in Ola till date
- The investment is part of Ola’s larger Series J funding round
Bengaluru, February 19, 2019: Ola, one of the world’s largest ride-hailing platforms, today confirmed an investment of Rs. 650cr (~$92mn) from Sachin Bansal, India’s foremost 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.
Speaking on his investment, Sachin Bansal, said, “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.”
He further added, “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.”
Bhavish Aggarwal, Co-founder & CEO, Ola said, “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.”
“I personally look forward to learning from Sachin’s journey, his mentorship and guidance, as we look to build one of the most impactful global businesses out of India,” he added.
Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola is one of the world’s largest ride-hailing companies. Ola integrates city transportation for customers and drivers onto a mobile technology platform ensuring convenient, transparent, safe and quick service fulfillment. Ola is focused on leveraging the best of technology and building innovative solutions ground-up that are relevant at a global scale. Notably, in 2016, Ola Play the world’s first connected car platform for ride-sharing was launched, transforming commuting experiences and setting the tone for global innovation in this space. Using the Ola mobile app, users across 125+ cities can connect with over a million drivers across a diverse range of vehicles. Driven by a hyperlocal approach, Ola is committed to its mission of building mobility for a billion people.