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<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> launched its services in two new cities in the UK – Coventry and Warwick.</li><li>Ola is currently operating in 9 cities in the UK.</li><li>It will also offer 50% off on all its rides for the first two weeks in the areas. </li></ul>Indian ride-hailing unicorn Ola expanded its offerings in the UK and launched in two more cities – Coventry and Warwick. With this, Ola is now operating in 9 cities in the UK. “We have learnt a great deal in the last twelve months since the launch, and feel immensely proud that our drivers have already provided over one million rides across the UK,” said Alok Pandya, Ola’s regional manager for the West Midlands, Coventry and Warwick. Ola will offer 50% off on all its rides in the first two weeks of its operations in these two cities. Coventry in UK is famous for its ‘black cabs’ for over 70 years now. It also incentivised the switch over to electric cabs. Ola seems to be honouring the tradition of black cabs by being the only app that can be used by both black cabs and private hire vehicles (PHVs) in the area. In March 2019, Ola expanded to Liverpool, Birmingham and Reading. Ola already made its presence felt in Australia and New Zealand before moving to Europe. Ola’s expansion news comes as the company is reportedly going for an IPO soon. The rumours of a possible IPO turned strong after it raised fresh funding of ₹35.88 crores from Seoul-based ARK Ola pre-IPO Fund. The Bhavish Aggarwal-led company has been actively entering new markets across the world, and had also recently set up a technology hub in the Bay Area.

Ola completes a million rides in the UK and expands to two more cities

<ul><li><keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> began services in <keyword id="84362" type="LOCATION" weightage="20" keywordseo="Perth">Perth</keyword>, Australia in February.</li><li>Ola's global expansion began after receiving investment from China's Didi Chuxing.</li><li>The company says it already has 7000 registrations in Perth.</li></ul>In its quest to take on Uber on a global scale, <keyword id="6362049" type="ORGANIZATION" weightage="100" keywordseo="Ola-Cabs">Ola Cabs</keyword> is now serving customers in Sydney. The company announced today, that it has hired a local team and "driver-partners" in the city. This is the second city Ola is covering in Australia, having launched in Perth earlier. According to the company, it already has 7000 registrations in that city. The homegrown ride hailing company began its global expansion after receiving investment from China's Didi Chuxing. Ola also has investments from Japanese Softbank, which owns over 30% stake in the company. As it begins expanding to other countries, Ola is still battling Uber as its main competitors. The American ride hailing company is present in 23 cities in Australia and New Zealand and serves many more countries as well. While Australia is the first country Ola is serving after India, the company has also set up teams in Colombo and Dhaka, though it's yet to start services there. Furthermore, Bhavish Aggarwal, CEO of Ola, had <a href="http://www.business-standard.com/article/companies/ola-plans-to-go-down-under-eyes-australia-and-new-zealand-for-expansion-118010901351_1.html" data-type="tilCustomLink">met</a> <keyword id="6354968" type="LOCATION" weightage="20" keywordseo="London">London</keyword> Mayor Sadiq Khan, during his India visit in December. Starting business in London may be difficult though, given the issues Uber has already been facing there. If Ola is able to establish its service there, it might be a big boost for the company's overseas plans.

After Perth, Ola is now ready to serve Sydney

<ul><li><keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is said to be preparing a $100 million investment in the cab-hailing firm, according to a report in the Economic Times. </li><li>Last month, Ola raised raised $50 million from a state-backed Chinese investment fund and a Hong Kong-based private equity firm, giving it a valuation of over $4 billion. </li><li>Ola is looking to raise fresh capital to facilitate its overseas expansion plans and boost its domestic food delivery business. </li></ul>Raising capital for expansion plans doesn’t seem to be a problem for Ola. Barely a month after it <a href="https://www.livemint.com/Home-Page/hjEZYQ3lV0p1LXuSOUoiGK/Ola-raises-50-million-from-new-Chinese-investors-at-43-bi.html">raised $50 million</a> from a state-backed Chinese investment fund and a Hong Kong-based private equity firm, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/sachin-bansal-may-back-ola-with-100-million-investment/articleshow/66156948.cms">a report </a>in the Economic Times states that the Indian ride-hailing firm could receive up to $100 million (₹7.4 billion) from Sachin Bansal, one of the co-founders of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. The $50 million investment last month gave Ola a valuation of over $4 billion. It came as part of the ride-hailing firm’s plan to raise $1 billion in fresh capital to facilitate its overseas expansion plans as well its boost its food delivery business and continue its domestic rivalry with <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>. It recently commenced operations in <a href="https://www.businessinsider.com.au/uber-ola-launch-melbourne-2018-4">several Australian cities</a> and<a href="https://www.livemint.com/Companies/Gb1LhciheDr9j4waCCOgSO/Ola-launches-services-in-UK.html"> the UK </a>and is set to launch in New Zealand this month. The UK launch in August 2018 was speculated to be a precursor to an eventual expansion into other European markets. The company plans to be operational <a href="https://www.businesstoday.in/current/corporate/ola-plans-to-reach-50-global-cities-by-2019-hunts-for-investors/story/284236.html">in 50 major cities </a>across the world by next year. Meanwhile, Bansal is flush with cash and is looking for ways to spend it. While the Ola investment represents a change of pace from his relatively modest investments in the past, he is said to be mainly interested in taking significant stakes in early-stage companies at the moment. The 37-year old earned close to $1 billion from the sale of his 5.5% stake in Flipkart to <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>. The transaction was completed in August. Bansal left the Indian e-commerce company shortly after Walmart’s takeover of Flipkart was finalised in May. According to media reports, Walmart <a href="https://economictimes.indiatimes.com/small-biz/startups/features/sachin-bansal-quits-flipkart-as-walmart-wanted-only-one-founder-on-board/articleshow/64103047.cms">was not keen</a> on retaining both of Flipkart’s co-founders, hence one of them had to leave. Ola will reportedly facilitate Bansal’s investment through the issuance of new shares and in smaller measure, the sale of existing shares. The deal represents a melding of two of India’s foremost entrepreneurs - Bansal and Bhavish Agarwal, the CEO of Ola. Agarwal has reportedly been <a href="https://www.livemint.com/Companies/xBREbzT0x6b0ighbICzMiJ/Ola-boardroom-row-pits-SoftBank-against-Bhavish-Aggarwal.html">engaged in a tussle </a>with the cab service’s main investor, Softbank, since May for control of the company. Bansal is likely an ally in this regard, as Agarwal needs fresh funding but doesn't want to raise it from Softbank, because that will increase the Japanese company's stake.

One of the co-founders of Flipkart could be readying a $100 million investment in Ola

<ul><li>Indian ride-hailing unicorn Ola has expanded its operations in the UK. </li><li>Ola is now present in 7 cities in the UK. </li><li>The company is not launching auto-rickshaws in the UK, had only used them in Liverpool for a promotional campaign last week.</li></ul>Indian cab aggregator Ola has expanded its operations in the United Kingdom and has launched services in three new cities in the UK – Liverpool, Birmingham and Reading. This takes Ola’s presence to a total of seven cities in the UK. Local councils in the UK have granted the platform with Taxi and Private Hire licenses. The company said that Ola is the only app in the UK that offers both black cabs and Private Hire Vehicles while also giving drivers highest share of the revenue – charging just 10% commission to black cabs and 15% to PHVs. “Thanks to the positive word-of-mouth from both driver-partners and passengers who experienced our offerings in Cardiff, Bristol, Bath, and Exeter, we received requests from users across the UK to introduce the Ola platform in their cities,” said Ben Legg, Managing Director of <keyword id="6775956" type="UNKNOWN" weightage="20" keywordseo="Ola-UK">Ola UK</keyword>. Photos of Ola’s tuk tuks spotted Liverpool had become a talking point in social media. However, the company said that it has not launched auto rickshaws in the UK. The auto rickshaws were a part of the promotional campaign where it offered customers free rides on green tuk-tuks last week. Over the next seven months, Ola plans to expand its operations to North England and the Midlands. The Indian ride-hailing unicorn had already made its presence felt in Australia and New Zealand before moving to the European markets. See Also: <a href="https://www.businessinsider.in/ola-will-race-zoomcar-in-self-drive-car-rentals-with-a-500-million-bet/articleshow/68614269.cms">Ola will race Zoomcar in self-drive car rentals with a $500 million bet</a> <a href="https://www.businessinsider.in/ola-takes-on-mahindra-glyd-with-fresh-funds-wheres-uber/articleshow/68214440.cms">Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?</a>

Ola onboards 3 more cities in the UK, uses tuk-tuks only for promotion

<keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> is going to lead the new funding round of <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> and will invest around Rs 2,000 crore in the cab-hailing app-only service. 
 
Ola is expecting to raise around $500 million in the fresh funding round and wants to control dilution. 
 
"SoftBank is leading the new round and the first tranche will close in a few days,” one of the sources told ET. 
 
"There will be an external process that will be launched now and Ola will keep the round open,” ET quoted another source as saying. 
It is expected that Ola’s valuation won’t get affected. Ola, which is number one in India, was valued at about $5 billion when it closed $500 million in funding in November last year. 
 
Ola may also focus on scaling the quality of the business. 
 Meanwhile, <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> is also increasing its focus in India that has become second most important market after the US. 
 
The fresh funding will be important for Ola as Uber has stepped up efforts in India. 
 
Both the ride-hailing apps will also have to be careful about the burn rates. 
 
Uber is currently burning about $30 million in India, which will go up to $45-50 million as it ramps up expansion across cities and products.

SoftBank is going to pump Rs 2,000 crore in Ola in next funding round

A day after US-based company <keyword id="1042120" type="PERSON" weightage="80" keywordseo="Uber">Uber</keyword> announced a $50 million investment in Hyderabad to set up a centre, its local rival <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> appointed former <keyword id="137231" type="COMPANY" weightage="80" keywordseo="Vodafone-group">Vodafone Group</keyword> CEO <keyword id="292871" type="PERSON" weightage="80" keywordseo="Arun-Sarin">Arun Sarin</keyword> on its board as an <keyword id="6489950" type="POSITION" weightage="60" keywordseo="Independent-director">Independent Director</keyword>. 

	Bangalore-based firm Ola, the country's fastest growing mobile app for cabs and taxies, is looking to expand in the coming years, reported the Economic Times. 
 

	Experts are of the view that Ola is planning to take on the global giants like Uber in India and professionals like Sarin, who have more than 30 years of global management experience, can make a difference. 
 Ola CEO and co-founder <keyword id="1543567" type="COMPANY" weightage="80" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword>, told ET: "Sarin brings a global perspective and a strong understanding of emerging markets like India. His experience in management and in growing large companies is invaluable to Ola." 

	The former Vodafone CEO would contribute in an advisory role to Ola's overall business strategy that would further drive growth and leadership of the firm, the company said in a statement today.
 Sarin was Vodafone's director between 2003 and 2008 and proved to be crucial in the firm's expansion in the emerging markets including India and Africa. He has also served on several boards including <keyword id="106488" type="CITY" weightage="80" keywordseo="Bank-of-England">Bank of England</keyword> and <keyword id="6354544" type="CITY" weightage="80" keywordseo="KKR">KKR</keyword>. 

	"Ola is creating immense value in the transportation and mobility space in India. The company has scaled rapidly to benefit customers and partners using technology and innovative business models," said Sarin. 
 Earlier this year, Ola bought <keyword id="1428790" type="COMPANY" weightage="80" keywordseo="TaxiforSure">TaxiForSure</keyword> for $200 million in one of India's biggest e-commerce deals. The company is targetting 20 million customers by the year end. 
	(Image: Indiatimes)

Ola ropes in former Vodafone CEO Arun Sarin to fight Uber

New Delhi, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and State Bank of India. The company announced the successful closure of the funding round from Temasek-led investors and State Bank of India. The funds raised would be utilised towards expansion of <keyword id="6354720" type="General" weightage="20" keywordseo="Ola" source="Orion">Ola</keyword>'s EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, the company said in a statement. The Bengaluru-based firm aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of gigafactory, it added. "At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India's journey towards becoming a global EV hub. We are committed towards developing core technologies in EVs and cell and are rapidly scaling up manufacturing to further accelerate the transition to sustainable mobility," Ola Electric Founder &amp; CEO Bhavish Aggarwal said. Ola Electric was selected by the government under its ambitious cell PLI scheme, receiving a maximum capacity of 20 GWh.

Ola Electric raises Rs 3,200 cr to fund EV business

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">David Paul Morris/Bloomberg via Getty ImagesLyft CEO and co-founder Logan Green.</div></div></div>Uber's main US competitor, Lyft, has managed to expand internationally without leaving its San Francisco headquarters, thanks to a new partnership between four major ride-hailing companies.The company plans to announce today that Singapore's GrabTaxi and India's Ola are<a href="http://www.businessinsider.com/didi-kuaidi-and-lyft-partner-to-take-on-uber-2015-9"> joining a partnership with the ride-hailing companies Lyft and Didi Kuaidi</a>, creating a global alliance between the startups.Lyft users visiting China, India, or Singapore can open up the Lyft app and hail a ride from one of their partners, instead of having to download a new app in a foreign language each time they visit.According to the companies, the partnership now covers nearly 50 percent of the world's population.The news of the partnership follows on the heels of Uber's latest funding round designed to bankroll its international expansion plans. Uber is reportedly raising another $2.1 billion for its international expansion plans, but its newest investor includes a major firm behind all three of Lyft's new partners. Tiger Global is also an investor in Ola, GrabTaxi, and Didi Kuaidi.China's Didi Kuaidi isn't afraid to call the partnership a "win for the diversity" (not the takeover of one unmentioned global company) for the industry."The partnership with Lyft, GrabTaxi and Ola allows Chinese users unprecedented ease of international travel, and helps each of us improve our own services, leveraging our collective technology and expertise," said Chen Wei, CEO of Didi Kuaidi, in a press release. "This is a win for the diversity and vitality of the global rideshare industry." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/find-out-uber-passenger-rating-instantaneously-driver-2015-11">Here's how to find out your Uber rating</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="l0a2s4eTo4Zk6e0tey7l9C2gDBEbblAN" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Lyft's global alliance to stop Uber's world domination is growing

<keyword id="6358992" type="General" weightage="80" keywordseo="delhi-police" source="Orion">Delhi Police</keyword> have busted a pan-India <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> electric scooty scam and arrested 20 persons in connection. According to a senior police official, the <keyword id="15512585" type="General" weightage="20" keywordseo="outer-north" source="Orion">Outer-North</keyword> district's <keyword id="29409" type="General" weightage="50" keywordseo="cyber-crime" source="Orion">Cyber Crime</keyword> police team arrested the 20 accused during a combination of raids in Bengaluru, <keyword id="11900977" type="General" weightage="50" keywordseo="gurugram" source="Orion">Gurugram</keyword> and Patna. The official added that the accused had duped more than 1,000 victims to the tune of crores on the pretext of Ola electric scooty bookings as well as dealerships. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/global-smartphone-apps-chip-market-hits-all-time-high-of-8-9-bn/articleshow/95488133.cms">Global smartphone apps chip market hits all-time high of $8.9 bn</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/cloud-lending-platform-lentra-raises-60-million-will-use-funds-for-product-strengthening-and-global-expansion/articleshow/95499744.cms">Cloud lending platform Lentra raises $60 million, will use funds for product strengthening and global expansion</a>

You Searched For "Ola expansion" and got 9 results

Ola completes a million rides in the UK and expands to two more cities

Sanchita Dash

After Perth, Ola is now ready to serve Sydney

Prasid Banerjee

One of the co-founders of Flipkart could be readying a $100 million investment in Ola

Dilsher Dhillon

Ola onboards 3 more cities in the UK, uses tuk-tuks only for promotion

Sanchita Dash

SoftBank is going to pump Rs 2,000 crore in Ola in next funding round

BI India Bureau

Ola ropes in former Vodafone CEO Arun Sarin to fight Uber

BI India Bureau

Ola Electric raises Rs 3,200 cr to fund EV business

PTI

Lyft's global alliance to stop Uber's world domination is growing

Biz Carson

Delhi Police bust pan-India Ola electric scooty scam, 20 arrested

IANS

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