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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.
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.
