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Tuesday, April 4, 2017

Ola got $100 mn funding from various investors

Ola is in talk to raises $100 mn (Rs 650 crore) funding from RNT Capital Advisers, a venture fund set up by Tata Sons chairman emeritus Ratan Tata, Falcon Edge Capital. Also Ola is negotiating with other investors to raise $200 million.

Also read: Uber stopped its service in Denmark

RNT Capital is expected to invest $60 million and $40 million funding may come from New York-based hedge fund Falcon Edge Capital. After this Ola's valuation will rise to $3.5 billion. Ola has, so far, raised about $1.5 billion in funding.

Ratan Tata has already made an investment of about Rs 1 crore in Ola’s parent company ANI Technologies in 2015.

Ola’s plan to work closely with the government and introduce electric vehicles in the top cities in the country in the next three months is expected to boost prospects for the Indian company.

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