Ola’s valuation skyrockets to $5.7b after fresh funding from Steadview

Date posted: Friday 11 January 2019

Ola has regained its number two ranking in the pecking order of India’s most valuable startups, after securing $74 million in fresh funding from existing investor Steadview Capital in its latest funding round, which valued India’s leading cab-hailing service at roughly $5.7 billion. The latest funding infusion is part of $1 billion that Ola is currently in the process of raising. Last January, Ola had raised $1.1 billion in fresh capital at a valuation of $3.5-4 billion from China’s Tencent Holdings Ltd and existing investor SoftBank.

(DealStreet Asia)