Flipkart’s Co-founder Sachin Bansal’s total investment npw stands at Rs 650 crore ($92 million) in cab hailing firm Ola,owned by ANI Technologies Pvt.Ltd.
The investment from Bansal, in his personal capacity, comes within a month after he invested $21 million in Ola. Both the fund infusions are part of Ola’s larger Series J funding round.
“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 also reported that Bansal is holding a company BAC Aquisitions Pvt Ltd along with a friend and former investment banker Ankit Agarwal. Further, there is speculation about Bansal investing $50-100M, (INR 347 Cr- 695 Cr) in an electric vehicle startup Ather Energy.
