Ola lifts up $500 million, ropes in China’s Didi Kuaidi

According to latest news, Ola has gained around $500 million from Tiger Global, SoftBank Group and Baillie Gifford and many more fuel capacity building and drive new use cases. Ola overtakes its competitors like US based Uber and Meru.

It is said in report that Ola has raised $500 million from China’s Didi Kuaidi, Baillie Gifford and its present investors like Falcon Edge Capital, Tiger Global, SoftBank Group and DST Global.

Talking to media, Ola co-founder and CEO Bhavish Aggarwal said they will make use of these funds for generating more growth. He said company will keep on working on new innovations like Ola money, Ola share and Ola Prime. The company has worked on the mobile ecosystem in the country.

“We will use these funds to further accelerate growth. We are excited about bringing onboard partners who can help us get there faster. We will continue to build for the local market through innovative solutions like Ola Share, Ola Prime and Ola Money, as we grow the mobile ecosystem in India,” he stated.

Further, Mr. Aggarwal told media that Ola has gained more than 30 times in the last one year with more than one million booking requests in a day.

The company has now closed with $1.3 billion of external funding as compared to $1.2 billion has been raised in the last year.

On the other hand, there is almost 3,50,000 vehicles registered with Ola and it now provide its services in more than 102 cities in the country.