Ola said to raise $2 billion from SoftBank, Tencent: Bloomberg.
Tuesday, October 3, 2017 IST
India’s ride-hailing company Ola on Monday secured $2 billion in new funding from a group of investors, including SoftBank Group Corp and Tencent Holdings Ltd, Bloomberg reported, citing a person familiar with the matter.
The funding round isn’t finished yet and the amount could change, the person said.
The funding is also backed by venture capital fund jointly run by Indian industrialist Ratan Tata, the University of California’s investment arm and US institutional investors, Bloomberg said, citing people familiar with the deal.
Japan’s SoftBank has been looking to play consolidator in India’s flourishing startup ecosystem with investments that include about $1 billion in e-commerce company Snapdeal and $70 million in grocery delivery group Grofers.
Ola and SoftBank declined to comment, while Tencent was not immediately available for comment.
Related Topics
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 64K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 10K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 9K views . 7 min read
True – Tr...
Recently posted . 8K views . 83 min read
More in
What makes a hotel grand? Is it the number of stars? Location? The kind of popularity it gets because it is frequented by celebrities, wealthy people, and common ...
Recently posted. 910 views . 4 min read
Addressing a seminar, Army chief M.M. Naravane spoke about evolution of warcraft and emphasised the relevance of Chanakya’s Arthashastra.
Recently posted. 767 views . 1 min read
Speaking on the 20th anniversary of India's victory in the Kargil War, General Rawat said, "India has the right over the entire Jammu and Kashmir, includin...
Recently posted. 682 views . 1 min read
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 2K views
Recently posted . 4K views . 126 min read
Recently posted . 3K views . 20 min read
Nakao commended the government's vision to make India a USD 5 trillion economy during Modi's second term in office, and reaffirmed ADB's commitment to...
Recently posted. 815 views . 1 min read
Following the recommendation of the Parliamentary status Committee on law in December closing to hold the two polls together, the law Ministry had sought the views ...
Recently posted. 764 views . 31 min read