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Cab rider Ola raises $1.1 bn from venture funds
Business | IANS | Published :Bengaluru, Oct 11 : Leading cab rider Ola on Wednesday said it raised $1.1 billion (Rs.7,150 crore) in latest funding round from venture firms led by Tencent Holdings Ltd, a leading Chinese internet firm.
"Our investors like SoftBank and other US-based financial investors have participated in this round of funding," said the company in a statement here.
Ola is also in talks with other investors to raise an additional $1 billion with new and existing investors.
Ola operates in 110 cities across the country using cars, auto-rickshaws, bikes and vehicles equipped with connected car platform for ride-sharing.
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