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2015-07-01

Ratan Tata bullish about the future of mobility in India; invests in Olacabs

Ratan Tata\'s investment in Ola is a huge endorsement for the company and reflects Ola’s commitment towards the future of mobility in India.

Mumbai headquartered online cab aggregator Olacabs has announced to raise undisclosed amount of funding from Ratan Tata, the Chairman Emeritus of Tata Sons Ltd., which clearly reflects that he is quite bullish about the future of mobility in India.

In words of Bhavish Aggarwal, Co-Founder & CEO, Olacabs.com, "We are thrilled to share that Ratan Tata has recently invested in Ola, in his personal capacity. While I am personally very excited about this, as a company, we can now learn from the rich experience of one of the finest business leaders of our times."

Globally, Ratan Tata is respected as one of this generation's finest business leaders. Under his leadership, the Tata Group has grown further as one of India's most trusted business houses. Ratan Tata himself have focused on building businesses with immense social impact and value creation.

"With Ola’s vision to impact mobility and transportation in India by creating a valuable citizen utility and a robust entrepreneurial ecosystem, we look forward to seeking inspiration and learning from this association. It is an honour as well as a huge endorsement for us and reflects Ola’s commitment towards the future of mobility in India," Aggarwal added further.

Founded in January 2011 by IIT Bombay alumni Aggarwal and Ankit Bhati, Olacabs 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. 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 OlaCafé, currently available in beta across four cities. "While we have grown to serve millions of customers with over 200,000 driver entrepreneurs on our platform in a span of just 4 years since inception, we definitely have a long way to go in revolutionising how an India of over a billion people will move around in cities," shared Aggarwal. 

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