Ola raises $222.5 million

What does ola do?

Ola, is India’s biggest taxi hailing service. It is the most popular mobile app for cab booking. It is changing the way you travel in your city. The company brings together cab drivers and customers through the technology to make transportations easier for everybody. With this cab booking service the connection of a customer and driver has become so easy. It is one of the India’s fastest growing companies and it is making it possible for millions of users to never have to own a car or drive one and is making transportation as a service available on indian roads.

How much Ola was funded?

Ola raised $225M in Series F funding on September 14, 2015 from Falcon Edge Capital (Lead), Dan Neary, ABG Capital, FII LTR Focus Fund, Parkwood Bespin, JSCapital, SoftBank Telecom Corp, Tiger Global Management and Steadview Capital.

Previous funding

• $330k in Angel on April 21, 2011 from Anupam Mittal, Rehan yar Khan and Kunal Bahl
• $5M in Series A on April 10, 2012 from Tiger Global Management(Lead)
• $20M in Series B funding on November 12, 2013 from Matrix Partners and Tiger Global Management
• $41.5M in Series C on July 9, 2014 from Sequoia Capital(Lead), Matrix Partners India, Steadview Capital (Lead) and Tiger Global Management

• $210M in Series D on October 25, 2014 from SoftBank Capital(Lead)
• $400M in Series E funding on April 15, 2015 from DST Global(Lead), Accel Partners, ABG Capital, Falcon Edge Capital, Mauritius Investments, GIC, SoftBank, Tiger Global Management and Steadview Capital.

 What is next for Ola?

The latest funding is a part of an overall $500 M the company is planning to rise, which values at around $5 billion. It has recently introduced a cab leashing programme for drivers, through a subsidiary on the programe which aims to get more drivers for its service.

More about Ola

Ola was founded in December 3, 2010 by Ankit Bhati and Bhavish Aggarwal. It has its headquarters in Kolkata, West Bengal.

It is the most popular mobile app for cab booking in India. It is the largest platform with over 40,000 cars across 22 cities and is growing.