Ola, our own make in India startup has raised fresh round of $50 million funds at a valuation of roughly $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund (CEECF). As per media reports, Sailing Capital and CEECF will hold a combined stake of more than 1% in OLA.
With backing of these new funds, the Indian competitor to Uber is all set to enter into New Zealand market with launch of its services in Auckland. New Zealand will be the third foreign country after Australia and UK where Ola will be starting its operations.
Ola is also trying hard to capture a sizeable share of Indian food delivery business where market is currently dominated by Zomato, Swiggy, UberEats.
According to media sources, Ola will be looking to raise fresh funds in coming months from new investors as well, including Singapore’s Temasek. The race to become the largest in car riding space has already begun. Let's see who will touch the finishing line first.
With backing of these new funds, the Indian competitor to Uber is all set to enter into New Zealand market with launch of its services in Auckland. New Zealand will be the third foreign country after Australia and UK where Ola will be starting its operations.
Ola is also trying hard to capture a sizeable share of Indian food delivery business where market is currently dominated by Zomato, Swiggy, UberEats.
According to media sources, Ola will be looking to raise fresh funds in coming months from new investors as well, including Singapore’s Temasek. The race to become the largest in car riding space has already begun. Let's see who will touch the finishing line first.
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