Ola secures $315M funding from DST Global

Ola, the online taxi service has raised $315M in latest round of funding from DST Global and existing investors Tiger Global, Steadview Capital and Accel Partners. Existing investors Softbank and Matrix Partners did not participate in the round.

According to a filing with Registrar of Companies DST Global led the round with $206mn funding. Tiger put in $40.65mn, Steadview Capital 10.5 million and Accel close to $5 million.  The latest round of funding comes less than six months after Ola secured $210 million from Japan’s SoftBank. The company also acquired TaxiForSure for $200 million in cash and equity deal last month to boost its presence in the online taxi market in India.

Ola recently launched Ola Cafe, an online delivery service that promises to deliver food within 20 minutes. Both Ola and Uber were warned by the Delhi Government last month to cease their operations in Delhi or their application for radio-taxi licenses will not be processed.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+