Flipkart co-founder Sachin Bansal is planning to invest about Rs 740 crore in cab-hailing company Ola, according to reports.
The investment will largely be through subscription of new shares of Ola, with a small component coming through a secondary sale by existing investors. The capital will arm Ola to battle US giant Uber.
Besides Ola, Bansal reportedly shares an interest in artificial intelligence startups, and he has held talks with at least two Bengaluru-based early-stage companies. Flipkart’s co-founder wants to take large stakes in a few early-stage companies where he can play a more active role from the start.
Source: The Economic Times