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Just six months after it raised $210 million from SoftBank Capital, mobile app-based cab and auto-rickshaw aggregator Ola has raised fresh funding to the tune of $315 million.
The investment was led by Russian venture capitalist Yuri Milner’s DST Global ($206 million), followed by Tiger Global ($40.7 million), Steadview Capital ($10.5 million), Accel Partners ($5 million) and ABG Capital.
Sources said part of the funding would be used for the operations of TaxiForSure, which it recently acquired for $200 million.
Founded by Bhavish Aggarwal and Ankit Bhati in 2011, Ola directly competes with multinational Uber, which is broadening its India footprint.
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Published on April 9, 2015
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