Sachin Bansal Invest $92 M In Ola | MobileAppDaily
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Sachin Bansal's Invest $92 M In Ola To Help It Counter Uber

Sachin Bansal’s investment in Ola was made in a personal capacity.

https://dk2dyle8k4h9a.cloudfront.net/Sachin Bansal\'s Invest $92 M In Ola To Help It Counter Uber

Ola bagged another stack of funds by adding Sachin Basal as their major investor. Flipkart co-founder Sachin Bansal has invested $92 million in ANI Technologies Pvt. Ltd, which operates cab-hailing app Ola, the company said in a statement.

According to the report by Techcircle last month, Ola received $21.18 million as the first tranche of the $ 92 million funding round. Another point to be noted in this deal is that it is the most significant investment made by an individual in Ola till date.

Bhavish Aggarwal, Ola’s CEO, commented,

Investment in Ola was made in Bansal’s personal capacity. This injection of funds is part of Series J funding round.  Earlier this month Ola raised $15.6 million from foreign investors as part of its ongoing Series J funding round.

Sachin Bansal stated,

With the expansion to over 100 cities and towns, Ola has proved a stronghold to battle its U.S. rival Uber. They are not only focused on just cabs, but they also proved their mettle by progressing its mobile money service and backing up other startups.

Meanwhile, Ola is also busy in expanding its operations globally by venturing into foresees market like in Australia, UK, and New Zealand with the aim to keep Uber on its toe.

Ariana Johnson
Written By Ariana Johnson

Ariana Johnson is currently covering the mobile app trends and sharing her pinpoint views over the recent mobile app news for MobileAppDaily. Apart from her passion for technology, she also has a thing for cats, and owns a Persian cat named ‘Lilly.’

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