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One of India’s biggest startups offers a valuable lesson in how to attract angel investors

Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, poses in front of an Ola cab in Mumbai
Reuters/Shailesh Andrade
The one with potential.
  • Ananya Bhattacharya
By Ananya Bhattacharya

Tech reporter

Published This article is more than 2 years old.

One of India’s most successful startups was built on the back of wealthy individuals willing to bet on first-timers.

In December 2010, when IIT graduates Bhavish Aggarwal and Ankit Bhati launched a bare-bones ride-hailing venture, they had few options to finance it aside from their own pockets and backing from immediate family.

At the time, seed funds and early-stage venture capital were relatively rare in India. But less than six months after starting Ola, Aggarwal and Bhati found their angels—literally.

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