New Delhi, February 19: Ride-sharing giant Ola on Tuesday announced that Flipkart's co-founder Sachin Bansal has invested about Rs 650 crores in the ride-hailing company. According to reports, the latest investment from Bansal is on his personal capacity as an investor. Notably, its the largest investment in OLA by an individual. Are UBER, OLA & Other Cab Aggregator Apps Safe for Women? Here are some Safety Tips for Female Passengers.

Earlier in January, Ola had issued shared worth Rs 150 crores to Bansal. Sachin, who founded the e-commerce company Flipkart with Binny Bansal, had quit after Walmart picked 77 per cent stake for USD 16 billion in the compan. Book Ola Cabs From Bangalore to North Korea! Yes, a Man Did at a Crazy Cost of Rs 1.49 Lakh.

"Ola is one of India's most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem," said Bansal, in a joint media statement. "On one hand, they have emerged as a global force in the mobility space and on the other, they continue to build deeper for various needs of a billion Indians through their platform, becoming a trusted household name today," he added.

Bhavish Aggarwal, co-founder and CEO at Ola, in a statement, said that Sachin's experience in entrepreneurship would mentor and guide them. "We are extremely thrilled to have Sachin onboard Ola as an investor. Sachin is an icon of entrepreneurship and his experience of building one of India's most respected businesses ground up, is unparalleled," said Aggarwal.

Ola had not yet commented on how the new funding will be used or the role of Bansai in the management. Meanwhile, Ola is giving a tough competition to Uber in India. Last year, the cab aggregator extended its services to Australia, New Zealand and the United Kingdom.

(The above story first appeared on LatestLY on Feb 19, 2019 06:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).