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Ola raises $315M from DST Global and some existing investors

Online cab and auto booking service provider Ola has raised $315 million funding led by DST Global, with participation from existing investors Tiger Global, Accel Partners and Steadview Capital, reports Business Standard. The report mentions that a filing with the Registrar of Companies revealed that DST Global invested $206 million, Tiger Global $40.65 million, Steadview Capital $10.5 million and Accel Partners $5 million. Ola’s other existing investors Softbank and Matrix Partners did not participate in this round. DST Global's Yuri Milner, apparently, already holds a stake in Ola in his personal capacity.  This funding is believed to have been closed last week, when Ola’s owner ANI Technologies issued series-G preference shares to multiple funds of DST Global and some existing investors. In October last year, Ola raised $210 million from Softbank and existing investors, post which SoftBank Internet and Media Inc CEO and ex-Google executive Nikesh Arora joined the board of Ola. The company had also raised $40 million from Steadview Capital and Sequoia Capital, with participation from existing investors Tiger Global and Matrix Partners, a few months before that. Last month, Ola acquired its Bangalore-based competitor TaxiForSure in a cash and stock deal worth $200 million. Following the acquisition, Ola and TaxiForSure have continued independent operations, and TaxiForSure’s investors are expected to roll over their stock into Ola. Ola had introduced kaali-peeli taxi hailing services in Mumbai in October last year and began offering booking of auto rides in Bangalore a month later. It also introduced cashless payments for autorickshaw and kaali peeli cab rides, last…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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