Singapore–based Temasek Holdings has purchased a ‘large single digit’ stake in Ola cabs for about $225 million, according to an Economic Times report citing people aware of the development. Temasek purchased the stake from a group of early investors in Ola, per the ET report. This, despite Temasek also currently negotiating with Ola’s management to invest more money in the cab aggregator by way of subscription to new shares. The ET report went on to claim that, as a part of this round of funding, some employees of Ola, along with angel investor Rehan Yar Khan and others are expected to sell their shares in the company. The investment will not just enable Ola to diversify the company’s shareholder base, but also have onboard a backer that can bring more funds in the company, the report added. MediaNama reached out to Ola for a comment on the matter, however, there was no response from the company till the time of the publication. The development comes months after media reports claimed that Ola was in discussions with Temasek and other investors to raise about $1 billion. At the time, Ola was reportedly expected to be valued between $6–7 billion. Ola was last valued also at around $7 billion, in October 2017. Previous funding —In October last year, the company raised $1.1 billion led by Tencent Holdings Limited. Ola’s existing investor SoftBank, in addition to other new US-based financial investors also participated in this round. —Ola raised $36 million (Rs 231 crore) from New York’s…
