Ola has raised $50 million from Sailing Capital (Hong Kong) and the China-Eurasian Economic Cooperation Fund (CEECF) for a 1% stake in the company, reports Mint. Ola refused to comment in response to a query by MediaNama. Last month, Temasek Holdings bought a large single digit stake from a group of early investors in Ola for $225 million. Temasek was also looking at acquiring more shares in the company.

Ola has raised nearly $3.3 billion since its inception in 2011 from:

  • Sailing capital, China Eurasian Economic Cooperation Fund
  • Temasek Holdings
  • Tencent Holdings
  • Softbank
  • Yes Bank
  • Tekne Capital
  • Falcon Edge Capital
  • Vanguard
  • Baillie Gifford
  • DST Global
  • Softbank Capital
  • Steadview Capital
  • Sequoia Capital
  • Tiger Global Management
  • Undisclosed

Earlier today, Ola announced that it will open shop in New Zealand after expanding to Australia and the UK.

Uber’s funding: Late last year, Softbank and its co-investors acquired an 18% stake in Uber which gave billions in cash to some of the company’s earliest investors and employees. In June, Uber was said to have raised $600 million on a valuation of $62 billion.

Our Ola coverage here, and Uber here.