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
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 CarDekho.com 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.