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.