Business tycoon Ratan Tata has acquired a stake in taxi-hailing app OlaCabs, making it his latest personal investment.
However, the company has not disclosed the amount and value of the stake, which the 76-year-old chairman emeritus of Tata Sons has invested.
The news was shared by OlaCabs CEO and co-founder Bavish Aggarwal on Twitter. Commenting on the investment he said, “We are thrilled to share that Mr. Ratan Tata has recently invested in Ola, in his personal capacity. While I am personally very excited about this, as a company we can now learn from the rich experience of one of the finest business leaders of our times.”
The former chief of Tata Group has previously invested in start-ups such online retailer Snapdeal, Chinese phone maker Xiaomi, fashion portal Kaaryah and auto classifieds portal CarDekho.
Other investors of OlaCabs include Tiger Global, Matrix Partners, Sequoia Capital, Steadview Capital, Softbank and most recently, Yuri Milner’s DST Global.