Ola raises $1.1 billion, may add $1 billion more

Thu, Oct 12 2017, 01:33 PM

Cab-hailing firm Ola said on Wednesday it has raised $1.1 billion from China’s Tencent Holdings, existing investor Japan’s Softbank and new undisclosed US-based investors. The company added it was in advanced talks to raise a further $1 billion, which would take collections from this round of fund-raising to around $2 billion. This is among the largest investments raised by Indian Internet businesses this year.