Ola Raises $ 225.5 Million in A Fresh Round of Funding – DustMoon

by Praneeth Karnena 0


Ola raises $ 22.5 million in a fresh round of funding. Ola, the desi transportation app just raised $ 225.5 Million (~1500 Crore) in a fresh round of funding from investors led by New York-based Falcon Edge Capital, about six months after the company raised $400 million from investors led by Russian billionaire Yuri Milner’s DST Global. Ola started out in Mumbai but quickly shifted it’s headquarters to Bangalore. Founded by Bhavish Aggarwal and Ankit Bhati, Ola is one of the fastest growing online businesses in India. As of 2014, the company has spread across 85 cities in India.

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In it’s first round of funding in 2011, Ola raised $ 330k (~2.20 Crores). Industry sources say that Ola is valued at around $ Billion. Ola‘s sole competitor in India is Uber. Uber, a San Francisco based transportation company has invested $ 1 Billion in it’s Indian arm which made Ola to go for a fresh series of funding.