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Ola is looking to expand in Srilanka and Bangladesh?

It looks like cab aggregator Ola might be looking to expand to neighbouring countries like Sri Lanka and Bangladesh. The company has posted job opening for the country on Linkedin.  As per the post, Ola is looking for operations expert in Dhaka and Colombo. This was first spotted by Inc42.

Last month, NDTV Gadgets reported that Ola is looking to offer its services in Sri Lanka, Nepal, and Bangladesh as the first international countries.  When queried for a confirmation, an Ola spokesperson declined to comment.

Ola’s biggest rival in India Uber already operates in Sri Lanka and Bangladesh.

Meanwhile Ola is on funding spree and raising capital to increase its operations

  • Last week, Ola raised US $36 million (Rs 231 crore) from New York’s Tekne Capital Management, according to documents filed with the Registrar of Companies (RoC).
  • In June this year, Ola had raised $50 million from Tekne and was in talks with several investors, including Coatue Management LLC, to raise more funds. Before that in May, it raised Rs 670 crore from Ratan Tata’s venture fund RNT Capital Advisers LLP and US hedge fund Falcon Edge Capital LP.
  • And, $250 million from Japan’s SoftBank Group Corp, in April.

Meanwhile in India, despite the virtual Ola and Uber duopoly in the cab aggregation space, new players are entering the market.

  • Vehicle manufacturer Mahindra & Mahindra Ltd recently said that it is set to foray into ride-hailing and cab aggregation business, and intends to not only make the product like low cost, spacious, urban electric taxis, but also plans to invest in the ride-sharing space.
  • Chaalak Shakti, a cab union in Delhi launched its own taxi-hailing app in May this year, called SEWA to counter Ola and Uber.


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