Ola, a mobility platform, would receive an investment of $500 million from Temasek and Plum Wood Investment, an affiliate of Warburg Pincus, ahead of its proposed IPO. This was amongst the largest investments in the Indian consumer internet space by these funds, claimed Ola in a release. Bhavish Aggarwal, Chairman and Group CEO, Ola said, “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 various urban mobility needs of our customers.’’“We look forward to collaborating with Bhavish and the team in the next phase of Ola’s growth,’’ said Vishal Mahadevia, Managing Director and Head of India at Warburg Pincus.

Source: The Hindu July 09, 2021 09:45 UTC