Flipkart co-founder Sachin Bansal now invested Rs 650 Cr in ANI Technologies Pvt Ltd, which works on the Ola taxi application, the company said in a statement.
The investment made in Bansal Personal Capacity is part of the financing round of the Ola J Series.
“Ola is one of the most promising consumer companies in India that is creating a profound impact and lasting value for the ecosystem, on the one hand, they have emerged as a global force in the mobility space and, on the other hand, they continue building more for the diverse needs of one billion Indians through its platform, today becoming a trusted family name, “said Bansal.
The investment of Rans 650 crore will value the Wave at around $ 5.8 billion, according to the report. This is also the largest investment disclosed to date by Binny Bansal. He has been an active angel investor, who is generally writing checks between $ 100,000 and $ 500,000.
In the year 2018 of December, he launched BAC Acquisition Pvt Ltd with his former Delhi Batchmate IIT and investment banker Ankit Agarwal.
For the fiscal year through March 31, Ola reported a 57% increase in operating income and halved its losses as a gross expense.
Ola has also entered the three foreign markets: the United Kingdom, Australia and New Zealand, during the past year.