Temasek, Warburg Pincus Partner With Bhavish Aggarwal For $500M Investment, Ahead Of Ola’s IPO
- ByStartupStory | July 9, 2021
Temasek, Warburg Pincus partner with Bhavish Aggarwal for $500M investment as announced on Friday by ride-hailing and mobility company, Ola. This investment marks one of the largest in the consumer internet space, the company said in a press note. Ola said the funding is a testament to its resilient business. The company now aims to scale up across various categories and geographies in its ride-hailing business.
“Over the last 12 months, we’ve made our ride-hailing business more robust, resilient, and efficient. With strong recovery post lockdown and a shift in consumer preference away from public transportation, we are well-positioned to capitalise on the various urban mobility needs of our customers. I welcome Warburg Pincus and Temasek to Ola and look forward to collaborating with them in our next phase of growth,” said Bhavish Aggarwal, Chairman and Group CEO, Ola.
Vishal Mahadevia, Managing Director and Head of India, Warburg Pincus, said about the development, “Warburg is excited to partner with Bhavish and Ola. They are the leading mobility platform and one of the biggest consumer internet platforms in India with a robust and fast-growing business. We look forward to collaborating with Bhavish and the team in the next phase of Ola’s growth.”
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