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Ola, Uber’s Main Rival In India, Refuels Its Tank With $315M In New Funding

TechCrunch

Ola, the taxi-calling app that is Uber’s biggest competitor in India, has raised $315 million in new funding from DST Global, as well as returning investors Tiger Global, Steadview Capital, and Accel Partners.

The new capital was disclosed in a filing with the Ministry of Corporate Affairs’ Registrar of Companies obtained by research firm Tofler and brings the total Ola has raised so far to about $592 million. The company declined to comment.

Ola’s previous round, when it raised $210 million led by SoftBank in October, took its valuation to $1 billion. It’s unclear what that figure is now that Ola has more than doubled its total funding.

After SoftBank’s investment, the company spent $200 million to buy smaller rival TaxiForSure. The acquisition helped Ola signficantly expand its presence. Back in January, Ola operated in 50 cities, up from just 19 in October 2014. Now that number has…

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