Online cab aggregator Ola has raised $225 million in a round of funding from existing investors Falcon Edge Capital, SoftBank, Tiger Global Management, Steadview Capital, ABG Capital, FII LTR Focus Fund and new investors JS Capital, Parkwood Bespin and Daniel E Neary, reports the Mint. The report, which cites documents filed by Ola with the Registrar of Companies, mentions that Tiger Global invested Rs 296.9 crore, Softbank invested Rs 384 crore, Falcon Edge invested Rs 514.7 crore, with the others contributing less than Rs 25 crore each. In April, Ola had raised $400 million in a series E round of funding led by DST Global, with participation from GIC, Falcon Edge Capital and existing investors SoftBank Group, Tiger Global, Steadview Capital and Accel Partners US. It's not clear if the current funding is a part of this round or is fresh funding. Considering the current round, Ola has raised over $925 million over the last few years. This includes the $210 million it raised from the Softbank Group in October last year, the $42 million raised from Steadview Capital, Sequoia Capital and existing investors in July last year, undisclosed Series B investment from Tiger Global and Matrix Partners in November 2013 and undisclosed Series A funding from Tiger Global Management in April 2012. Note that competitor Uber recently raised around $1 billion in funding from Microsoft and The Times Group’s parent company Bennett, Coleman and Company Limited (BCCL). Uber had said then that it would use the funding to expand in…
- MediaNama Daily: It’s not you, it’s your data January 28, 2023
- Why is Google not fully complying with India’s orders, MapmyIndia CEO asks January 27, 2023
- Unique Identification Authority of India working on age verification through e-KYC January 27, 2023
- Views: Why India’s “indigenous” smartphone operating system BharOS is overhyped January 27, 2023
- Here’s why Twitter employees’ access to its ‘God Mode’ function is a problem January 27, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...