It is said in report that Ola has raised $500 million from China’s Didi Kuaidi, Baillie Gifford and its present investors like Falcon Edge Capital, Tiger Global, SoftBank Group and DST Global.
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Ola will use these funds to further accelerate its growth in the Indian market with a focus on building mobility for a billion people. We are excited about bringing onboard partners who can help us get there faster.
The latest round of funding comes just months after San Francisco based Uber’s announcement to invest $1 billion in India as the app-based taxi-hailing market in the country heats up. Last week, the company launched its independent online wallet, “Ola Money” through which transactions can be done by customers for their rides.
In April 2015, Ola raised United States dollars 400 mn of funding led by DST Global in series E and prior to that, USD 210 mn led by Soft Bank Group as part of its series D round in October 2014. Matrix Partners, Steadview Capital, Sequoia India, Accel Partners U.S., and Falcon Edge are also its existing investors.
ANI Technologies, operator of Ola, India’s largest ride-hailing app service provider, has confirmed it has raised $500 million in fresh funding as it moves to consolidate its lead in one of the most promising markets for Uber Technologies. He said company will keep on working on new innovations like Ola money, Ola share and Ola Prime. Earlier this year, it introduced a cab leasing programme for drivers and said it will spend Rs 5,000 crore through a subsidiary that will enable drivers to own the cars eventually.
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Ola acquired Bengaluru-based cab aggregator TaxiForSure for $200 million in a cash and equity deal in March this year from its co-founders A. Radhakrishna and G. Raghunandan.
