Friday, October 13, 2017

Ola raises further money

Taxi aggregator  Ola  has raised $1.1 billion in fresh funding from China’s Tencent Holdings Ltd and existing investor SoftBank Group Corp. of Japan.

The latest funding in Ola is also a clear sign of the largest investors in India’s start-up ecosystem closing and consolidating ranks, with Alibaba Group Holding Ltd and SoftBank forging an informal alliance of sorts on one hand, and Tencent and Naspers Ltd combining forces on the other.

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