The money is starting to flow from India’s largest startup exit. Ola has added a major name to its ongoing financing round after it confirmedthat Flipkart co-founder Sachin Bansal has invested 650 crore INR (around $92 million) into the Indian ride-hailing business.
The deal rumored in January when Paper.vc, an intelligence service that sifts through company filings in India, noticed that Bansal had committed to investing 150 crore. Today, eight-year-old Ola not only confirmed the pairing, but it revealed that the actual size of Bansal’s investment is significantly higher. It represents his most prominent and largest investment to date, and his first major deal since he left Flipkart following its sale to Walmart for $16 billion last year. [ Tech Crunch ]