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.
