Investments

Olacabs Raises $315M in Funding Led by DST Global

Shown Above: Yuri Milner Image Source: News.Net

Shown Above: Yuri Milner Image Source: News.Net

In February this year iamWire had reported that there were rumours floating around DST Global is going to invest upto $500 million in India based cab aggregator Ola. Turns out that they were partly true after all, Russian Venture Capitalist Yuri Milner’s DST Global has indeed made an investment in the company for a sum of over $185 million in a total round of $315 million in Ola’s Series E round of funding.

Additionally, the company had raised close to $126 million in compulsorily convertible preference shares  from Helion, Accel, Bessemer, Tiger Global and more investors along with the acquisition of TaxiforSure in mid-March 2015.

According to the company’s filing with the Registrar of Companies by ANI Technologies Private Limited, owner of Olacabs, the other investors included in series G round include Accel Partners, Steadview Capital, Internet Fund and more.

Thus, including Softbank’s investment, this brings total capital raised by Ola close to $718 million till date.

Read More:  #Fundingwire - Chatbot Platform ZiPi Raises Investment; Joolz Raises Rs 3.3 Cr & More

(Hat Tip – Parijat Garg, Founder, Tofler)

 

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