Ola secures Rs 1,478 crore from Falcon Edge Capital

Taxi-hailing service, Ola has secured a fresh funding of Rs 1,478 crore from New York based Falcon Edge Capital. Earlier this year, Ola had raised approximately $400 million from investors led by Russian billionaire Yuri Milner‘s DST Global.

With this funding, the company will now be valued at around $5 billion.

It is also expected that existing investors Softbank and Tiger Global were also part of this round of funding

Ola faces some serious competition with Uber in India. Uber had raised $1 billion in India to expand its services in the country.

Ola also offers recently launched Mobile wallet service Ola Money. Ola had earlier extended its footsteps in Food Delivery Service(Ola Cafe) and HyperLocal Delivery Service(Ola Store). The company had also acquired TaxiforSure, a similar radio cab booking service, recently.

The following two tabs change content below.

• Bio
• Latest Posts

Akash Boaz

Akash is a Startup Enthusiast and an Entrepreneur by Heart. He is usually High on Tech and loves being a Life Hacker. Apart from being a Gamer by passion and a Foodie by choice, Akash loves to write about the Startup Ecosystem Stories. In addition to being a Management Consultant, he is also the Editor at Geekopedia

Latest posts by Akash Boaz (see all)

• NightShift lets Netflix users with slow internet enjoy their movies without buffering. - June 1, 2018
• Netmeds raises $14 million in latest funding round from investment funds Sistema and Tanncam - March 27, 2017
• Companies strive to improve quality of hire – a Wisdomjobs.com Report - March 27, 2017

Recommended Read:

Test prep Startup MockBank secures $400K from Blume Ventures & Others Online lingerie store Zivame secures Rs250 crore in series C funding YourStory secures Series A funding from Kalaari Capital, Qualcomm Ventures, T V Mohandas Pai and Ratan Tata Bike Rental Startup WheelStreet secures funding from Broadbean Capital PriceRaja.com secures Rs 2 Crore from AdLift CEO, Prashant Puri