Sachin Bansal drives in additional funding for Bhavish Aggarwal’s Ola

Bengaluru: Flipkart co-founder Sachin Bansal has committed more of his personal $1 billion-plus fortune to Ola, owned by ANI Technologies Pvt. Ltd, taking his total investments in the ride-hailing app to about $92 million ( ₹650 crore).

Bansal, who made more than $1 billion by selling his 5.5% stake in the e-commerce major during the $16-billion Walmart-Flipkart deal, has invested across tranches in Ola’s Series J round. In January, Bansal had invested about $21 million ( ₹150 crore) in the ride-hailing company. Ola aims to raise $1 billion as part of the funding round.

Bansal may invest more in subsequent funding rounds, according to two people aware of the development. He is, however, not expected to take an advisory role at Ola, or be involved in the company’s operations.