Taxi hailing app, Ola raises $500 million from Tiger Global, SoftBank and others
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Cab aggregator
Commenting on the funding, Bhavish Aggarwal, cofounder and CEO, Ola told ET, “We are excited about bringing onboard partners who can help us get there faster."
The investment will be used to fuel supply initiatives, build supply capacity and to go deeper into existing markets.
Ola competes with San Francisco based
Ola has closed over $1.3 billion of funding, of which about $1.2 billion has been raised over the past year. San Francisco based Uber in July announced that over nine months it would invest $1 billion (about Rs 6,400 crore) in the country, its largest market outside the United States.
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Image credit: Indiatimes
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