<article><a href="https://www.dealstreetasia.com/tag/flipkart" target="_blank" rel="noopener">Flipkart </a>co-founder Sachin Bansal has invested Rs 650 crore ($92 million) in ride-haling major <a href="https://www.dealstreetasia.com/tag/ola" target="_blank" rel="noopener">Ola</a>, the latter confirmed on Tuesday.</article>

<a href="https://www.dealstreetasia.com/tag/flipkart" target="_blank" rel="noopener">Flipkart </a>co-founder Sachin Bansal has invested Rs 650 crore ($92 million) in ride-haling major <a href="https://www.dealstreetasia.com/tag/ola" target="_blank" rel="noopener">Ola</a>, the latter confirmed on Tuesday.
The investment is part of Ola’s larger Series J funding round and is in Bansal’s personal capacity as an investor, said Bengaluru-based Ola in an official statement.
The investment from Bansal is higher than the $21 million he was initially reported to have injected in Ola. The deal marks his first investment following his near $1-billion exit from Flipkart after it was bought by US-based retail giant Walmart for around $16 billion.
According to a report in Mint, Bansal, who is not likely to take on an advisory role in the company, may invest more in Ola in subsequent rounds.
&#8220;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,&#8221; said Bansal in a statement.
He is also said to be in talks for strategic investments in startups such as Ather Energy and SigTuple, apart from setting up a new holding company, BAC Acquisitions, which will also be used to route his future investments in startups.
For Ola, the capital infusion follows a $74-million recent investment from existing investor Steadview Capital in its latest funding round, which valued the company at roughly $5.7 billion. It also reportedly raised Rs 112 crore ($15.6 million) from a handful of new foreign investors including Raymond S Cahnman, chairman of the trading firm TransMarket Group; New York-based philanthropists Tina and Steven Price; J3T Ventures; and investment firm Lyon Assets as part of the Series J round.
Mirae Asset-Naver Asia Growth Fund, a joint venture between Seoul-based Mirae Financial Group and Naver, is also said to have signed a term sheet to invest in the company.
Last year, Ola also raised $50 million at a valuation of around $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund (CEECF). Reports had also surfaced last year about Japanese investment giant and existing investor SoftBank wanting to invest another $1 billion in Ola for a bigger stake. However, the founders of Ola were reportedly not keen to cede control to SoftBank.
Ola has been trying to create a mammoth war chest to take on rival Uber in the domestic market, while also funding its international expansion, including in Australia, the UK and New Zealand. Since its launch in 2011, Ola has raised over $3.4 billion in primary capital from a number of local and global investors, according to Crunchbase.
The firm has more than halved its consolidated losses to Rs 2,842.2 crore, while growing revenue by almost 61 per cent during FY2018, as per regulatory documents. Ola had registered a loss of Rs 4,897.8 crore in FY2016-17, PTI had earlier reported.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/ola-steadview-117066/" target="_blank" rel="noopener">India: Ola’s valuation skyrockets to $5.7b after fresh funding from Steadview</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-ola-funding-coo-120221/" target="_blank" rel="noopener">India: Ride-hailing major Ola raises $16m from new foreign investors; hires COO</a>

The deal marks his first investment following his near $1-billion exit from Flipkart after it was bought by US-based retail giant Walmart for around $16 billion.

Flipkart co-founder Sachin Bansal invests $92m in ride-hailing firm Ola

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Flipkart co-founder Sachin Bansal invests $92m in ride-hailing firm Ola

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