Ride-hailing startup – Ola Cabs is in discussions to invest money in Pune Based Carpooling Startup “sRide” as per the sources. sRide is a carpooling startup launched in the year 2016 with an angel funding of 1 million Dollars. This 3-year-old startup is running its operations in different parts of the country namely Pune, Mumbai, Hyderabad, Delhi, Kolkata, Chennai and Bengaluru as mentioned in their website.
The deal is still not finalized yet but it seems like Ola will invest around Rs 30 Crores for an equity stake of 26%. If this deal gets finalized the valuation of sRide will shoot up to anywhere between Rs 120-160 Cr.
Not only Ola but many Indian Investors are now investing in mobility space startups looking at their rising demands in many cities. In this round of funding along with Ola, some other venture capitalists may also be participating as per the sources cited above.
