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Ratan Tata picks up stake in online cab service Ola

Ratan Tata, who was the chairman of salt-to-software Tata Sons for more than two decades, has previously invested in start-ups ranging from online retailer Snapdeal to Chinese phone maker Xiaomi.

business Updated: Jul 01, 2015 23:40 IST
HT Correspondent
HT Correspondent
Hindustan Times
Ratan-Tata-HT-Photo( )

Ratan Tata, chairman emeritus of Tata Sons, has invested an undisclosed amount in his personal capacity in taxi aggregator Ola.

Over the last one year, Tata has made a string of personal investments in various start-ups, including online marketplace Snapdeal, mobile payments firm Paytm, online furniture retailer Urban Ladder, auto portal and online jewellery retailer Bluestone. Earlier this year, he also bought a stake in in Chinese smartphone maker Xiaomi.

“This is a huge endorsement from one of the most respected business leaders of our times,” said Bhavish Aggarwal, CEO and co-founder of Ola.

Ola recently raised $400 million in series E round of funding led by Russian investment firm DST Global. Singapore’s GIC, Japan’s SoftBank Group, Tiger Global, Steadview Capital and US’ Accel Partners are among Ola’s other investors.