Sachin Bansal is putting his money into these firms after he got whopping amount from Flipkart stake sale
Sachin Bansal, co-founder of e-commerce major Flipkart, has invested Rs 650 crore or $92 million in Ola, a ride-hailing start-up in India.
Sachin Bansal, co-founder of e-commerce major Flipkart, has invested Rs 650 crore or $92 million in Ola, a ride-hailing start-up in India. This investment is part of Ola’s Series-J funding round and is in Bansal’s personal capacity as an investor. Earlier, last month, he had invested Rs 150 cr in the company.
In addition to Ola, Sachin Bansal has also put money in other ventures. Recently, he made an investment of Rs 50 cr or $7 million in holding company BAC Acquisition, in which he is the founder. BAC Acquisition was founded by the Flipkart founder to route all the start-up investments, according to a Mint report.
Bansal is also in talks with start-ups like Ather Energy and SigTuple to put money, as he received over $1 billion from his stake sale in Flipkart. Though there is no confirmation yet from Bansal yet, it is known that he looking to invest in other start-ups. Bansal has not yet announced anything officially about his investment and the amount.
According to the report, Bansal is not in favour of taking more funds from Japanese investor SoftBank. However, with Bansal onboard, it is not yet clear whether the ride-hailing unicorn will take more funds from SoftBank. The Japanese investor holds a substantial portion of share in Ola.
Bhavish Aggarwal, co-founder and CEO, Ola said, “We are extremely thrilled to have Sachin onboard Ola as an investor. Sachin is an icon of entrepreneurship and his experience of building one of India’s most respected businesses ground up, is unparalleled. His investment is a huge encouragement for all of us at Ola and our mission to serve a billion people.”
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.