Saturday, April 15, 2017

Ola raised Rs 1,675 crore funding from SoftBank

Ola has raised Rs 1,675 crore or about $250 million in fresh funding from Japanese telecom and internet SoftBank Corp. Now SoftBank held a 22.5% stake in Ola, followed by Tiger Global (20.5%).

Also read: Popular Startups backed by Ratan Tata

Ola founded by Bhavish Aggarwal and Ankit Bhati in 2010, has so far raised a little over $1.4 billion (including the new funding round) from marquee investors such as Tiger Global and Matrix Partners. This includes $500 million in a Series F round from Scottish investment firm Baillie Gifford, China’s Didi Chuxing and other investors in November 2015; $400 million in a Series E round led by DST Global in April 2015; and $210 million in its Series D round led by SoftBank in October 2014.



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