Sunday, November 24

Tag: ola funding

Ola, Hyundai in talks for $300 million fund infusion
9Mar By Press Trust of IndiaNo Comments
News

Ola, Hyundai in talks for $300 million fund infusion

NEW DELHI: Ola is in talks with Hyundai Motor Company for investing about USD 300 million in the cab-hailing platform, according to sources. The discussions are at an advanced stage and a deal could be closed in the next few weeks, sources said. If the deal goes through, it would be Hyundai's second investment in the Indian startup ecosystem. Previously, it had led a ₹100-crore funding round in car rental startup Revv. Ola did not respond to an e-mailed query on the development. A Hyundai Motors India spokesperson said the company is "open to cooperation with various potential partners but it is our policy not to comment on market speculation and rumours". The fresh funding will give the Bengaluru-based company more ammunition to compete with rival Uber in I...
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Ola raises 292 Crore For its Electric Segment
1Mar By AdityaNo Comments
News

Ola raises 292 Crore For its Electric Segment

India's leading cab booking platform Ola electric raises Rs 292 crore from global investment firms Tiger Global Management, Matrix Partners, and Sarin Family India LLC (family office of ex-Vodafone chief executive officer Arun Sarin), according to a regulatory filing by the company. This is the first time Ola EV raises independent funding. Ola Electric Mobility has issued and allotted “1993 Series A compulsory convertible preference shares of face value of Rs 10 each of the company, at an issue price of Rs 14,61,523,” to the above investors. As per the sources, the company will raise a total of Rs 400 crore in this round led by the same set of investors. Ola recently announced to bring 1 million EV on road and plan to place 10,000 e-rickshaws and e-autorickshaws in its service w...
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Flipkart founder Sachin Bansal Invested $21 Million in Ola
14Jan By AdityaNo Comments
FUNDING

Flipkart founder Sachin Bansal Invested $21 Million in Ola

Flipkart co-founder Sachin Bansal has pumped in about Rs 150 crore in ride-hailing platform Ola, though the flipkart founder committed 650 crore in Ola. According to documents filed with the Corporate Affairs Ministry."... 70,588 fully and compulsorily convertible, cumulative 'Series J' Preference Shares' having face value of Rs 10 having the rights, privileges and preferences... is hereby allotted at a subscription price of Rs 21,250," the documents showed. This translates into an investment of about Rs 650 crore by Bansal, who left Flipkart after the US retail giant Walmart picked up 77 per cent stake in the e-commerce company for $16 billion. The resolution was passed at a board meeting of ANI Technologies, the entity that runs Ola, on January 12, according to the documents. ...
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11Jan By PriyankaNo Comments
FUNDING

Ola Raises $74 million Funding, Pips Oyo as a 2nd Most valuable startup in India

India's leading taxi aggregator Ola raises $74 million funding from existing investor Steadview Capital. After this funding round Ola pips OYO a hotel aggregator startup and become India's No.2 most valuable startups. Ola is now only behind digital payments service firm Paytm (One97 Communications Pvt. Ltd). After $74 million in fresh funding round, Ola, India’s leading cab-hailing service valued at $5.7 billion. Oyo Rooms, which was valued at nearly $5 billion after it raised $1 Billion from SoftBank Group Corp & Others.  Before got acquired by Walmart last year, the leading e-commerce giant Flipkart was the most-valuable Indian startup (close to $16 billion) for the longest time. Last January, Ola had raised $1.1 billion in fresh capital at a valuation of $3.5-4 bill...
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Ola Raises $50 Million to Compete With Uber in International Market
18Sep By NitishNo Comments
FUNDING

Ola Raises $50 Million to Compete With Uber in International Market

India's leading taxi aggregator Ola raises $50 million from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund (CEECF). The SoftBank-backed company looking to battle against Uber in markets like India, the UK, and others. The latest funding round will make Ola's valuation around USD 3.7 billion and USD 4 billion. Ola, in an extraordinary general meeting held on August 31, 2018, approved the proposal to raise this amount through the issuance of 2,50,000 fully and compulsorily convertible preference shares, according to regulatory documents filed by Ola with the ministry of corporate affairs. Sailing and CEECF (state-backed investment fund of China) will together hold more than one per cent stake in Ola (run by ANI Technologies), it added. The lat...
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Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings
11Oct By RishabhNo Comments
FUNDING

Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings

One of India's unicorn, Ola, operated by ANI Technologies Pvt Ltd has confirmed that it has closed a $1.1 billion funding from Tencent Holdings, a leading Chinese internet company. The round also saw participation from its existing investor- SoftBank Group and other new US-based financial investors. Ola also said that it is in advanced talks with existing and another investor to raise additional $1 billion, thus rounding off what may turn out to be a $2 billion funding round. After a billion scale funding received by Flipkart and Paytm, Ola is the third one to receive such massive funding this year. Flipkart leads them by having raised at least $2.8 billion  in two separate tranches from SoftBank, Tencent, eBay and Microsoft, followed by Paytm which raised $1.4 billion from SoftBank....
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Ola Raises $2 Bn From SoftBank Group And Tencent Holdings
3Oct By RishabhNo Comments
FUNDING

Ola Raises $2 Bn From SoftBank Group And Tencent Holdings

Another Indian Unicorn saw $2 billion fund raising on Monday. Ola- India's ride hailing company raises $2 billion from SoftBank Group Corp and Tencent Holdings Ltd, another high profile funding in this year after Flipkart which competes with Amazon. Although as per the Bloomberg's report the amount is not fixed for now and can change in the process. However as per The Economic Times Tencent has finalized an investment of $400 million in Ola, valuing the company over $3.8 billion. The paperwork from both the companies has been finalized and awaits approval from CCI. This funding will impact its rival Uber's position in India, on the one end where it is facing licence ban in London and multiple allegations. Other backers in the ride-hailing startup’s latest financing round included ...
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