The new hires come after Kalaari, an early investor in ecommerce firms Snapdeal and Myntra, raised $290 million (Rs 1,922 crore) last year.
Ola, which in fiscal 2015 was competing with two major rivals — Uber and TaxiForSure — spent Rs 920 crore on fleet operation costs.
The money will help Swiggy compete strongly with restaurant listing company Zomato, which entered the food delivery business last year.
The Tokyo-based investor has anyway slowed down investments in India and has not made any fresh deals in the past eight-nine months.
The e-tailer has tied up with Vodafone India, to provide a touch-and-feel experience of smartphones like One-Plus 3, which sell exclusively on the platform.
Kalyan Krishnamurthy — a managing director at Tiger Global, the largest investor in the company — will oversee category management.
Lok Capital expects to deploy the fund in next five years, targeting investments ranging from $2 million (Rs 13.4 crore) to $10 million (Rs 67 crore).
At least 75% of ‘Micro’ customers are first-time users of air-conditioned taxis, the spokesperson said. ‘Micro’ is cheaper than Ola’s previous lowest-fare service, Mini.
The Chinese company is also chalking out a plan to get Paytm to spin off its marketplace business and plans to top it up with more capital, said a source.
Jeff Bezos said the company would invest an additional $3 bn in India, boosting the company's committed investment in the country to $5 billion.
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