Flipkart’s founder Sachin Bansal has invested Rs 650 crore ($92 million) in cab hailing firm Ola.
The investment from Bansal, in his personal capacity, comes withina month after he invested $21 million in Ola. Both the fund infusions are part of Ola’s larger Series J funding round.
I’m super excited to welcome @_sachinbansal onboard as an investor in @Olacabs. Sachin is an icon and an inspiration to a whole generation of entrepreneurs. I look forward to learning from him as we build one of the most impactful businesses out of India! https://t.co/cApT2HsMcc pic.twitter.com/SGIaJrXirA
— Bhavish Aggarwal (@bhash) February 19, 2019
“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,” said Bansal.
This investment from Bansal is largest of his all other investment so far. Bansal has invested in dozen other Indian startups so far.
“We are extremely thrilled to have Sachin on-board 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,” Bhavish Aggarwal, Ola’s co-founder and CEO said.
Last year,Sachin Bansal left Flipkart soon after US retail giantWalmart picked up a 77% stake in the E-Commerce firm for $16 billion.
In November, it was reported that Sachin may invest $100 million in homegrown cab hailing firm Ola in what would be called as biggest investment in personal capacity.
In the following month, it was alzo reported that Bansal is establishing a holding company through which he will run his new businesses and make investments as well.