An Indian ride-sharing company Ola Cabs’s CEO Bhavish Aggarwal will not take a year’s salary to fight coronavirus.
Bengaluru based startup Ola cabs sets up 20 crore relief fund and will be deployed against fighting the coronavirus.
India’s most popular Cab Aggregator and Ridesharing company, Ola cabs has launched a relief fund for supporting cab, auto-rickshaw, and taxi drivers, among others, across India.
Ola cab said in a statement that “The proceeds of the fund will help upliftment of taxi drivers and their families who have been affected by the restrictions due to the coronavirus – COVID-19 pandemic,”.
The startup aims to raise about 50 crore. While the initial amount for the fund has been set at 20 crores. Contributions fund will come via investors, Ola group members, and a crowdfunding platform.
Several industries such as retail, aviation, restaurants, and hospitality are expecting breakdowns in the coronavirus pandemic, according to industry experts and several reports.
Spokesperson and Head of Communications, Ola, Anand Subramanian, said “India is under a 21-day lockdown because of coronavirus and the same is likely to cause major disruptions to the Indian economy. The taxi driver community has been finding it hard to meet their family expenses without a source of income”
|Are you an
Entrepreneur or Startup?
Do you have a Success Story to Share?
SugerMint would like to share your success story.
We cover entrepreneur Stories, Startup News, Women entrepreneur stories, and Startup stories
Ola Cabs will provide medicines, daily essential items, medical and emergency support to its driver-partners through the raised amount, Anand Subramanian added.