Bengaluru-based ride-hailing unicorn Ola has now secured ₹520.79 crores ($74 million) in a fresh funding round from existing investor Steadview Capital. The firm raised the capital on 9th of January at a valuation of around ₹40,205 crores. Ola has raised a total of $3.4B in funding over 18 rounds
In April 2015, Steadview Capital participated in Ola’s $400 million series R round of funding. Investors like Softbank, Accel, Tiger Global and Falcon Edge Capital also participated in that funding round. As per some media reports, Ola had also raised ₹14.4 crores in December 2018 from Eternal Yield International Limited, a China-based electric scooter and bicycle company. Last year in September 2018, Ola raised ₹350 crores ($50 million) from China Eurasian Economic Cooperation Fund and Hong Kong-based Sailing Capital.
Tencent Holdings, SoftBank, Yes Bank, Matrix Partners, Temasek Holdings, DST Global, Tiger Global Management, Didi Chuxing, GIC, Baillie Gifford, Sequoia Capital India, Matrix Partners India, Accel, Ratan Tata, Steadview Capital, Falcon Edge Capital, Falcon Capital, Sailing Capital, Anupam Mittal, Vanguard, RNT Capital, Kunal Bahl, SoftBank Capital, Eternal Yield International, ABG Capital, SoftBank Telecom Corp, China Eurasian Economic Cooperation Fund, Tekne Capital, Rehan yar Khan and Mauritius Investments has invested in Ola.
Ola has widened its investor base which will help it reduce the dependence on Softbank, which currently holds the highest stake in the company. Ola’s CEO has reportedly refused a whopping $1 billion dollar fund from Softbank. Industry experts speculate that Ola’s is trying to broaden its investor base to retain the control and prevent a possible merger with its main rival Uber since Softbank has invested in both Ola and Uber.
