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
Related News & Articles
Washington: America's pharma segment has asked US Trade Representative (USTR) to keep on keeping India on its need watch list (PWL) which incorporates nations t...
Recently posted . 642 views . 32 min read
In the early days of Squarespace , CEO and founder Anthony Casalena wore many hats.
He would spend his days tackling a litany...
Recently posted . 942 views . 27 min read
New meals on Shatabdi Express trains: After revamping the menu on several Rajdhani and Duronto Express trains, IRCTC is all set to introduce combo meals on select...
Recently posted . 822 views . 2 min read
• Oyo charges hotels a roughly 20 percent franchise fee on room revenues when hotels join its network, but some Indian hotel oper...
Recently posted . 713 views . 8 min read
While presenting his last full-fledged budget in 2018, Finance Minister Arun Jaitley had not altered income tax rates.
Recently posted . 640 views . 1 min read
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 . 9K 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 National
Justice Kurian Joseph’s suggestion that Collegium may send file back is distressing, says senior Govt functionary
Recently posted. 672 views . 0 min read
The State Bank of India has informed its debit cardholders to get their old Magstripe Debit cards replaced with EMV Chips Cards before 31st December 2018, owing to ...
Recently posted. 701 views . 1 min read
Banks will work an additional two hours on November 10 and 11 and will likewise stay open throughout the weekend to help clients lining up to store their 500 and 10...
Recently posted. 559 views . 16 min read
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 2K views
Recently posted . 1K views . 48 min read
Recently posted . 3K views . 19 min read
Two men claimed to have joins with three charged captured in Bihar for ansuspected terror edge in the wrecking with Patna-Indore Express in Kanpur a year ago were...
Recently posted. 838 views . 18 min read
Mumbai: The Indian Navy has got its first indigenously-built Scorpene-class submarine 'INS Kalvari. Prime Minister Narendra Modi commissioned ...
Recently posted. 613 views . 1 min read