Japanese tech powerhouse, SoftBank has confirmed that it has led a 210 million dollar investment in Olacabs, an Uber-style service in India that aims to use technology to dominate the car-for-hire service in India.
The Japanese company also invested 627 million dollars in another Indian e-commerce company recently, TechCrunch reported.
Other investments in India include mobile ad startup InMobi and Bharti.
Chairman and CEO of SoftBank Corp, Masayoshi Son said that since SoftBank's foundation, their mission has been to contribute to people's lives through the Information Revolution, report said.
He added that they believe that India is at a turning point in its development and have confidence that India will grow strongly over the next decade.
As part of this belief, they intend to deploy significant capital in India over the next few years to support development of the market, the report said.
