SME Times News Bureau | 02 Jul, 2015
App-based transportation aggregator Ola on Wednesday said
Tata Sons chairman emeritus Ratan Tata has invested in the company in his
personal capacity.
"It is our honour to have Ratan Tata onboard as an investor. This is a
huge endorsement from one of the most respected business leaders of our times.
We look forward to learning from Tata's experience," the company's CEO and
founder Bhavish Aggarwal said in a statement.
Ola said Tata's "strong inclination towards transportation as a
segment" and the philosophy of creating widespread social impact through
business creates a strong connection to this investment.
Formerly known as Olacabs, the company currently serves millions of customers
in over a 100 cities across India through 150,000 vehicles registered on its
platform.
Tata has made personal investments in e-commerce companies like Snapdeal, Urban
Ladder, Bluestone and Cardekho.com in the recent past. Last month, he had
picked up a stake in Kaaryah, a women's wear fashion portal and in April this
month, he has invested in Chinese cellphone maker Xiaomi.