India’s Ola raises about $314 million in fresh funding: company filing

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India’s biggest online cab-hailing service Ola has raised about $314 million in a fresh funding round investors led by Russian billionaire Yuri Milner’s DST Global, a company filing showed.

equity investors including Accel Partners, Tiger Global and Steadview Capital also invested in ANI Technologies Pvt Ltd, the owner of Ola, in the latest funding round, the filing dated April 2 the Registrar of Companies showed.

In October, Ola raised $210 million from Japan’s SoftBank Corp (9984.T), which did not participate in this round.

Last month, Ola bought rival TaxiForSure for $200 million in one of India’s biggest e-commerce deals as it competes against fast-growing United States-based rival .[pro_ad_display_adzone id=”10″]

Ola is investing in technology, better safety features and new offerings as it expands its network.

Besides letting customers hail taxis as well as autorickshaws, the cheaper three-wheeled taxis that ply on India’s roads, Ola’s app also allows customers to order food in some localities.

(Reporting by Nivedita Bhattacharjee in Mumbai; Editing by Sumeet Chatterjee and Biju Dwarakanath)(Reuters)