Ola raises $300M as part of a new electric vehicle partnership with Hyundai and Kia

Ride-hailing platform Ola announced today that it has raised $300 million from Hyundai and Kia as part of a strategic partnership focused on electric vehicle development. This brings the company’s total raised to $3.8 billion according to Crunchbase. Ola’s last funding was announced just three weeks ago, when the company said it had raised $56 […]

Flipkart co-founder Sachin Bansal invests $92M in Ola

The money is starting to flow from India’s largest startup exit. Ola has added a major name to its ongoing financing round after it confirmed that Flipkart co-founder Sachin Bansal has invested 650 crore INR (around $92 million) into the Indian ride-hailing business. The deal rumored in January when Paper.vc, an intelligence service that sifts through company […]

Uber’s India rival Ola nears $6 billion valuation ahead of huge funding round

Ola, India’s local rival to Uber, has seen its valuation jump to nearly $6 billion as it prepares to take in a large round of financing. The ride-hailing firm, which was founded in 2010, has raised around $3.3 billion from investors to date, and it topped that up a little this week. Ola pulled in […]

Ola, Uber’s India rival, invests $100M in scooter rental startup Vogo

We’re familiar with Uber cozying up to scooter startups — it has bought one and invested in another — but over in India, the U.S. firm’s key rival is hatching a major alliance of its own it invested $100 million in scooter rental startup Vogo. Ola first invested back in August when Vogo raised an undisclosed Series […]

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

Ola, the arch-rival of Uber in India, has raised $50 million at a valuation of about $4.3 billion from Sailing Capital, a Hong Kong-based private equity firm, and the China-Eurasian Economic Cooperation Fund (CEECF), a state-backed Chinese fund. The funding was disclosed in regulatory documents sourced by Paper.vc and reviewed by Indian financial publication Mint. […]

Uber bets on developing world growth with low-data Uber Lite

“The next hundreds of millions of riders for us are going to come from outside of the United States”, Uber’s head of rider experience Peter Deng tells me. The transportation giant already sees 75 million riders per month and 15 million rides per day. But to grow in the developing world, it had to rethink […]

Uber’s India rival Ola could add public transport services following latest acquisition

The rumors are true, India’s Uber rival/potential-future-M&A-buddy Ola has acquired transportation startup Ridlr in an undisclosed deal. Mint reported the imminent transaction last week, describing it as a fire sale, and today Ola confirmed the deal. The terms are undisclosed so you can make of that what you will. Update: A source with knowledge of […]

Uber rival Ola buys Foodpanda India to get into food deliveries

 Ola, the Uber rival in India, is entering the food delivery space after it announced a deal to acquire Foodpanda’s India business from its parent company DeliveryHero. The deal will see Ola scoop up the Foodpanda India business with DeliveryHero taking an undisclosed amount of Ola stock in exchange. Undisclosed all-stock deals are usually indicative […]