Saturday, January 23, 2021
Techiexpert.com
No Result
View All Result
  • Login
  • Register
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging
Techiexpert.com
No Result
View All Result

Ola raises $50M at a $4.3B valuation from two Chinese funds

Sony T by Sony T
September 18, 2018
in Tech news
Reading Time: 2min read
A A
0
Ola raises $50M at a $4.3B valuation from two Chinese funds
10
SHARES
127
VIEWS
Share on FacebookShare on Twitter

Bengaluru-based cab-hailing unicorn, Ola has raised ₹362 crores ($50 million) from two new Chinese investors, Sailing Capital and China-Eurasian Economic Cooperation Fund (CEECF). The investments have been made through British Virgin Islands entities of the two Chinese funds, Auto Fortune Ltd and Odyssey Bravery Ltd, according to the regulatory documents filed with the registrar of companies accessed by paper.vc.

Indian cab-hailing giant Ola is expected to be valued between $3.7-4.3 billion, after the investment.

With the investment, Sailing Capital and CEECF, a state-backed investment fund of China, will hold a combined stake of around 1.17% in Ola1.

It is also being speculated that Sachin Bansal, co-founder and former chief executive officer of the Indian e-commerce giant Flipkar, is looking to acquire a stake in Ola, through secondary transactions.

ADVERTISEMENT

There are also reports of alternative asset management firm Steadview Capital, helmed by Ravi Mehta, holding discussions with the cab-hailing startup to invest direct capital, as it also explores the secondary route to bump up its current shareholdings.

In October 2017, Ola raised around ₹7,172 crores in a funding round led by Tencent Holdings and Softbank.

The fresh funding comes at a time when Ola inches towards profitability and aggressively expands to overseas markets. Ola has announced its plans to venture into the New Zealand market, shortly after it had announced its foray into the UK market. The startup has also appointed Brain Dewil as Country Manager for New Zealand.

Bhavish Aggarwal, co-founder, and CEO at Ola said, “We see a real opportunity in New Zealand to provide a fair alternative in the rideshare space for both customers and drivers. We invested in understanding the New Zealand customer and devised the right strategy to meet their transport needs.”

Last month, Ola expanded its cab-hailing business to the UK market, after it obtained licenses to operate in South Wales and Great Manchester. Earlier this year, Ola had entered the Australian market. Ola has accelerated its expansion plans since it announced that the startup had started making money on every ride, in July 2018.

Tags: Bangalore startupsOla
Share4Tweet2Share1Pin2
Sony T

Sony T

Sony is a passionate bloggers writes on Futuristic technologies ...

Related Posts

Increasing Adoption of Informatics will Promote Growth of Data Analytics.
Tech news

Increasing Adoption of Informatics will Promote Growth of Data Analytics.

January 22, 2021
6 Ways AI and ML Together Transforming Endpoint security in 2020?
Tech news

5 Ways Artificial Intelligence Impacts Daily Life

January 22, 2021
What are some of the new innovations in Telehealth?
Tech news

Getting Started With Telehealth Technology: Here’s What Therapists Need to Know

January 21, 2021
10 CMDB Tools That Will Revolutionize 2021
Tech news

10 CMDB Tools That Will Revolutionize 2021

January 21, 2021
What You Need for An Effective Home Office Setup
Tech news

8 Advantages Coworking Spaces Have Over Traditional Offices

January 21, 2021
Best books on Windows 10 for beginners
Tech news

Best books on Windows 10 for beginners

January 20, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

How a SERP Checker Can Improve Your Search Rankings
Marketing Trends

How a SERP Checker Can Improve Your Search Rankings

by Srikanth
January 23, 2021
Meet India’s Atmanirbhar Microprocessor chip ‘Moushik’, meant for IoT devices
Internet Of Things

Meet India’s Atmanirbhar Microprocessor chip ‘Moushik’, meant for IoT devices

by Srikanth
January 22, 2021
Bolo Indya
Startup news

Bolo Meets is helping content creators by monetizing their content

by Sony T
January 22, 2021
Increasing Adoption of Informatics will Promote Growth of Data Analytics.
Tech news

Increasing Adoption of Informatics will Promote Growth of Data Analytics.

by Sony T
January 22, 2021
6 Ways AI and ML Together Transforming Endpoint security in 2020?
Tech news

5 Ways Artificial Intelligence Impacts Daily Life

by Sony T
January 22, 2021
Load More
Techiexpert.com

© 2020 All Rights Reserved

  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging

© 2020 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.