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Ratan Tata invests in taxi-hailing app service Ola in his personal capacity

Chairman
emeritus of Tata Sons Ltd Ratan Tata has invested an undisclosed amount in his
personal capacity in taxi aggregator Ola, reports the

Economic Times.

Chairman
emeritus of Tata Sons Ltd Ratan Tata has invested an undisclosed amount in his
personal capacity in taxi aggregator Ola, reports the

Economic Times.

“It is our honor to have Mr. Ratan Tata onboard as
an investor. This is a huge endorsement from one of the most respected business
leaders of our times and reflects Ola’s commitment towards the future of mobility
in India. We look forward to learning from Mr. Tata’s experience that will help
us build a world class organization from India,” Ola Cofounder and CEO
Bhavish Aggarwal was quoted in the report as saying.

Tata’s
strong inclination towards transportation as a segment and philosophy of
creating widespread social impact through business creates a strong connection
to this investment. 

Ola currently serves millions of
customers in over a 100 cities across India through 150,000 vehicles registered
on its platform. Through Ola’s mobile app, customers can book cabs, autos and
taxis from around them to their doorstep within minutes of requesting. 

According to the report, this growth has been
further accelerated with the acquisition of TaxiForSure, India’s second largest
cab aggregator in March 2015. Ola has leveraged its strength as an on-demand
platform by going beyond transportation into instant food delivery with
OlaCafe, currently available in beta across four cities. 

Over
the last year, Ratan Tata has made investments in other homegrown e-commerce
players, including Snapdeal, UrbanLadder, BlueStone and CarDekho. He has also invested in mobile commerce firm Paytm, Chinese handset maker Xiaomi, wind energy startup Altaeros Energy and fashion
portal for women’s wear Kaaryah.

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