Owner and operator of Ola, the ride-hailing platform, ANI Technologies is currently in talks to invest in a carpooling mobile application called sRide.
The negotiations, which are currently believed to be at the diligence stage, could see the SoftBank-backed Ola pick up a stake of 26% and upwards in the three-year-old sRide.
Emails sent to Ola spokespersons and sRide cofounder Nitin Chadha did not elicit any response till the time of going to press.
Additionally, a number of top venture capital firms have also shown interest in sRide, according to the sources cited above, who added that the investment firms could participate alongside Ola, or pump in capital in a fresh round in the company. This, however, could not be independently verified by ET.
If successful, this is likely to be the first institutional capital raised by sRide, which has been primarily bootstrapped since inception. According to data on the company on Crunchbase, sRide had raised about $1 million in angel funding in 2016.
Investors have begun to show interest in India’s still-nascent carpooling segment, as they look to cash in on the broader urban mobility space. In August last year, ET, citing sources, had reported that car and bike pooling platform Quick Ride was in talks to raise $4 million in a round led by marque venture capital firm Sequoia Capital.
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