Ather Energy was one of the earliest startup investments of Bansal, when he invested $500,000 in the firm as an angel investor in 2014
The company expects to grow business by five times in next fiscal year at current growth rate
Sachin Bansal has been in discussions with financial experts on the potential to launch a new venture in the fintech sector
This is the largest funding by an individual in the app cab
The investment is in Sachin's personal capacity and is also the largest financing by an individual in Ola till date, Ola said in a statement
The latest funding is expected to be part of the $1 billion Ola has been aiming to raise
He had also introduced Ather to Lee Fixel of Tiger Global, one of the most prolific private equity investors
His inauspicious exit from Flipkart came soon after Walmart agreed to buy 77% stake in the company for $16 billion
Anticipates significant fall in cash transactions in the next 5 years
He wants the prices to be brought down to as low as $50
Group will be formally launched at a technology forum on December 6 and 7,
Flipkart chairman Sachin Bansal calmed employees' nerves over the recent high-profile exits from the company by speaking about an unlikely target of the layoffs: himself