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Following the crackdown on diesel taxis in Delhi-NCR, <a href="http://www.businessinsider.in/searchresult.cms?query=ola">Ola</a> is increasing its fleet of <a href="http://www.businessinsider.in/searchresult.cms?query=CNG+cars">CNG-fitted cabs</a>. 
 <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>, which already has 20,000 CNG cars, will be adding over 5,000 cabs in coming weeks and infusing Rs 200 crore for the same. 
 
"Ola is planning to expand its <a href="http://www.businessinsider.in/searchresult.cms?query=fleet+of+cab">fleet</a> of CNG cabs in Delhi by adding more than 5,000 cabs in the next one week. We have brought together car manufacturers, banks and financiers and valuation platforms to enable heavy discounts, loan offers and on spot valuation and exchange," said Ola COO Pranay Jivrajka. 
 
Ola is also giving lucrative offers to <a href="http://www.businessinsider.in/searchresult.cms?query=drivers">drivers</a> of saving up to Rs 1.5 lakh on exchanging their old diesel vehicles for a new CNG one in next six months. 
 
"This is the largest amongst a series of programs rolled out by Ola to encourage CNG adoption in Delhi-NCR. By the next week, the intent is to ramp up by at least 25 per cent,” said Pranay. 
 
With over 3,50,000 vehicles registered on its platform, Ola offers services across 102 cities in India.

Ola is pumping Rs 200 crore to increase fleet of CNG cabs in Delhi-NCR

<keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is continuing talks with several investors to raise funds and recently it picked up around $50m from a New York-based hedge fund. India's largest taxi aggregator Ola raised funds from hedge fund Tekne Capital Management, and the funding is expected to take Ola’s valuation to over $3 billion. The latest round comes after Ratan Tata's RNT Capital Advisors and US hedge fund Falcon Edge infused money in the startup. "Ola continues to be in talks with various investors, including Coatue Management for this round," a source familiar with the development told ET. As per reports, Ola’s market share in India will be around 65%, with Uber holding the rest. Ola is going aggressive in the country and is working on several projects, including introducing electric vehicles in cities. The latest funding also comes after Uber is embroiled in a cultural row. Uber has also been slapped with an intellectual property lawsuit from Google's parent Alphabet-owned Waymo.

Ola raises nearly $50 million from New York-based hedge fund; valuation to go over $3 billion

<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

India’s top ride hailing app <a href="http://www.businessinsider.in/searchresult.cms?query=ola&amp;sortorder=effectivedate">Ola</a> raised Rs 670 crore, or $ 104.40 million in fresh funding. Apart from FO Maurtitius, a venture between University of California and <a href="http://www.businessinsider.in/searchresult.cms?query=ratan+tata&amp;sortorder=effectivedate">Ratan Tata</a>, UC-RNT, also participated in the funding round. While the UC-RNT Fund infused Rs 267.99 crore, FO Mauritius pumped in Rs 402 crore. <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is gathering ammunition to keep itself ahead of <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>, which raised about $250 million from <a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a> in November. ANI Technologies, which runs Ola, raised investments of more than $1.5 billion from investors, including <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> Group, Tiger Global, Matrix Partners, Steadview Capital, Sequoia India, Accel Partners US and Falcon Edge. While Ola has been successful in raising a sizable amount of funds, it continues to bleed on account of heavy advertising and promotional expenses and high employee cost. The company posted a consolidated loss of over Rs 2,311 crore -- about Rs 6 crore a day -- during fiscal 2015-16. ANI Technologies did see its revenues registering a stellar growth at Rs 758.23 crore during 2015-16 compared to Rs 103.77 crore in the previous fiscal. Ola, which has a presence in 110 Indian cities compared to Uber's operations in 29, has been aggressively expanding its portfolio of services.

Ola raises Rs 670 crore in fresh funding; Ratan Tata pumps Rs 267 crore

<keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is likely to get an investment of $400 million from China’s <keyword id="212412" type="COMPANY" weightage="20" keywordseo="Tencent">Tencent</keyword> and if the talks between both the sides are successful, this investment will give the Indian ride hailing app more ammunition to counter rising <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>. As per various reports, if Ola gets the investment from Tencent, the former will then have more than $800 million in total fresh funding, pushing Ola's valuation to more than $4 billion. "Tencent executives were in Bangalore last week and they met the Ola management team to discuss the transaction. Ola has also held talks with US technology giant <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> to participate in the current round," one of the people in the know how told ET. Tencent, which is also Flipkart’s investor, will become one of the sought-after investors in India if its deal with Ola gets finalised. The entry of Tencent will also help Ola curtail influence of it's largest shareholder <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword>, which is reportedly in talks to invest in Uber. So far, Ola has raised funds from <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>'s venture fund RNT Capital Advisors, US hedge fund Falcon Edge, SoftBank, and New York-based hedge fund Tekne Capital Management.

Ola to get ammunition to counter rising Uber; may get $400 million investment from Tencent

<ul><li><keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword> raised $250 million from Softbank to enter the unicorn club. </li><li>The subsidiary company of ride hailing unicorn Ola had earlier raised funds from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Arun Sarin, Tiger Global, Matrix India and others. </li><li>Interestingly, all of these investors have also placed their bets on Ola.</li></ul>Ola Electric has become India’s latest unicorn after it raised $250 million from Softbank, according to filings sourced by paper.vc. Ola Electric Mobility , a subsidiary of the ride hailing unicorn Ola, has been in the news of late as India powers up its Electric Vehicle mission. In May, Ola Electric also raised funds from Arun Sarin, former Vodafone Group CEO and also from the Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Interestingly, most of the investors in Ola Electric are its parent company’s investors – from Softbank to Arun Sarin, Ratan Tata and even Tiger Global and Matrix India. “India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” Bhavish Aggarwal, Co-founder &amp; CEO, Ola had said in March. Through Ola Electric, the company partnered with several equipment manufacturers and battery manufacturers, while looking to work with the automotive industry for solutions for electric vehicles. Ola had also recently announced its technology centre in the Bay Area, where it’s hiring over 150 engineers to develop next-generation technologies in mobility. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</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’s investors back its electric company – Ola Electric – welcome it to the unicorn club

<ul><li><keyword id="292871" type="PERSON" weightage="20" keywordseo="Arun-Sarin">Arun Sarin</keyword>, former <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> Group Plc CEO, has invested an undisclosed amount in <keyword id="4393078" type="PERSON" weightage="20" keywordseo="Ola-Electric">Ola Electric</keyword>. </li><li>Sarin has been on the board of <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> as an investor and director for long now.</li><li>Earlier in May, Ola Electric had also raised funding from Ratan Tata.</li></ul>Arun Sarin, former Vodafone Group PLC CEO has invested in Indian unicorn Ola's subsidiary company Ola Electric. With the investment, he joins the board of Ola Electric as an independent director. Sarin has been on the board of Ola as an investor and director for long now. As Ola turned to electric mobility, he has invested again in the Series A round being raised by Ola Electric. Recharging India’s EV mission Ola Electric Mobility develops solutions to make electric mobility viable at scale. The subsidiary company was formed when Ola initiated its electric mobility program in Nagpur in partnership with Mahindra. “Electric Mobility at scale is the need of the hour and can help us solve some of the world’s most complex problems like climate change, pollution, over-dependence on non-renewables amongst others. Ola Electric is pioneering the change by building an ecosystem that can help catalyze the adoption of <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> globally,” Sarin said. The former Vodafone Group CEO and telecommunications industry expert is also on the board of companies like Accenture and Cisco amongst others. <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword>, Co-founder &amp; CEO, Ola said, “Arun’s experience of building global businesses and his deep understanding of emerging markets and opportunities will be very valuable for us at Ola Electric in executing our mission. We look forward to his continued guidance and mentorship.” In May, Ola Electric raised funding from Ratan Tata. In March, it had raised ₹400 crore from Ola’s existing and early investors - Tiger Global and Matrix India. Both Tata and Sarin are existing investors in Ola. The electric vehicle sector is gaining interest in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry into the segment. See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</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>

Former Vodafone Group CEO Arun Sarin invests in Ola Electric

<keyword id="3590566" type="UNKNOWN" weightage="20" keywordseo="RNT-Capital">RNT Capital</keyword> Advisers, a venture fund set up by <a href="http://www.businessinsider.in/searchresult.cms?query=ratan+tata&amp;sortorder=effectivedate">Ratan Tata</a>, is likely to lead an investment round of $100 million, or Rs 650 crore in India’s top ride hailing app <a href="http://www.businessinsider.in/searchresult.cms?query=ola&amp;sortorder=effectivedate">Ola</a>. 
 
Tata may invest $60 million, while rest will be invested by New York-based hedge fund <a href="http://www.businessinsider.in/searchresult.cms?query=falcon+edge+capital&amp;sortorder=effectivedate">Falcon Edge Capital</a>. Besides, <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is also in talks with other investors and looking get funding of $200 million. 
 
If the deal goes through, Ola's valuation will rise to $3.5 billion. 
 
"This new $100 million commitment (will happen) at a higher valuation,” ET quoted sources as saying. 
 <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> has invested in 30 startups earlier in his personal capacity and this Ola’s investment will be the first major transaction by RNT Capital. RNT Capital has set up a $250-million corpus with University of California Investments (UC Investments) to invest in Indian companies. UC Investments manages a corpus of $100 billion across endowment and pension funds, and announced the venture with Tata in February 2016. 
 
Ola is also planning to work with the Indian Government and introduce electric vehicles in the top cities in the next three months. 
 
ET quoted analysts and employees at Ola, saying Ola clocked about six million weekly rides on an average between September and December 2016, across all its offerings-cabs, auto rickshaws and shuttle buses. “The major source of revenues for both Ola and Uber-around 70-75% - comes from their economy services including Ola Micro, Mini and UberGo,” analysts told ET. 
 
Ola is leaving no stone unturned to fight out the increasing pressure from <a href="http://www.businessinsider.in/searchresult.cms?query=uber&amp;sortorder=effectivedate">Uber</a>. 
 "Since <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> has been operational for 2-3 years, investors will start asking questions related to profitability,” an analyst tracking the space told ET on the condition of anonymity.

Ratan Tata likely to lead $100 million funding round in Ola; valuation may touch $3.5 billion

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

New Delhi, Mar 27 () Ride-hailing major Ola on Friday launched a fund to support auto-rickshaw, cab, Kaali-Peeli and taxi drivers across India amid the ongoing 21-day lockdown. Besides, Ola co-founder Bhavish Aggarwal will forgo salary for one year that will go towards the fund. Launched under Ola Foundation, the 'Drive the Driver Fund' will support the drivers through contributions from the Ola group, investors and via a crowdfunding platform for citizens and other institutions, a statement said. "The proceeds of the fund will help towards the welfare and upliftment of drivers and their families who have been affected by the restrictions due to the COVID-19 pandemic," it added. Ola Group and employees are contributing an initial capital of Rs 20 crore to the fund and through the crowdfunding campaign, the intent is to raise up to Rs 50 crore. "The mobility industry has been brought to a grinding standstill during these stressed times, and the driver community has been finding it hard to pay for their family expenses without a source of income," the statement said. Ola's initiative aims to bring together multiple stakeholders in the ecosystem such as customers, investors and partner organisations to participate in supporting millions of drivers and their families across India, it added. This initiative will focus on key areas such as emergency support and essential supplies. In due course, Ola Foundation will also take up initiatives to support drivers in areas such as aid for children's education, among others. "Millions of drivers and their families have been affected, and even a humble contribution can have a lasting impact on their wellbeing. We invite all the stakeholders of the mobility industry to join us in every way you can, and support the people who move us in this difficult phase," an Ola spokesperson said. Ola has undertaken a number of measures, including launching a special COVID-19 insurance cover exclusive for their driver partners and their spouses. These steps are aimed at helping driver-partners and customers through the coronavirus outbreak. The number of positive coronavirus case in India has touched 724 till date. SR HRS

COVID-19: Ola launches fund to help drivers, CEO to forego a year salary

<ul><li><keyword id="6602160" type="UNKNOWN" weightage="20" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised series A round of funding from <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India.</li><li>The investment will help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. </li></ul>Ola Electric Mobility has raised an undisclosed amount from Ratan Tata in a series A round of funding. Ola Electric is a subsidiary of ANI Technologies Pvt Ltd, which is Ola’s parent company. Two months earlier in March 2019, Ola Electric had raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. Tata is also an existing investor in Ola. “The <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development. I have always admired the vision of <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and I’m confident that this will be part of yet another important strategic move into this new business area,” said Ratan Tata, Chairman Emeritus of Tata Sons. Interestingly, Tata Group’s Tata Motors is also an early adopter of electric vehicles with its Tata Tigor EVs. The investment will further help Ola achieve its plan to bring 1 million Electric Vehicles on Indian roads by 2021. In an official statement, the company said that Tata’s investment is a significant endorsement of the company’s approach to developing an electric mobility ecosystem, including innovations in charging infrastructure, swapping models, and market-appropriate products. Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments. The Electric Vehicle industry has been heating up in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry in the segment. Maruti Suzuki has also <a href="https://www.thehindu.com/business/Industry/steering-away-from-diesel/article27035520.ece">announced</a> that it will be phasing out its diesel vehicles by 2020, which could possibly lead to the company producing more EVs. See Also: <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> <a href="https://www.businessinsider.in/ola-report-indias-ev-mission-needs-two-wheelers-three-wheelers/articleshow/69035515.cms">India's EV mission will be incomplete without two wheelers and tuk tuks but not without a few speed bumps</a>

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

<ul><li>The ride-hailing company’s subsidiary <keyword id="6602160" type="UNKNOWN" weightage="60" keywordseo="ola-electric-mobility">Ola Electric Mobility</keyword> has raised ₹400 crores from existing investors. </li><li>Ola has raised money 2 days after Mahindra and Mahindra launched its ride-hailing app Glyd which will use electric cars. </li><li>Ola had announced to bring 1 million EVs on Indian roads by 2022. </li></ul><keyword id="4393078" type="PERSON" weightage="40" keywordseo="Ola-Electric">Ola Electric</keyword> Mobility Ltd, a company backed by Ola – India’s unicorn ride hailing app – has raised ₹400 crores from Ola’s existing and early investors Tiger Global and Matrix India. The news come just two days after Mahindra and Mahindra announced the launch of its ride hailing service Glyd which would be using only Electric Vehicles (EVs). The subsidiary company had come into being when Ola tried to push its electric mobility program in Nagpur in partnership with Mahindra. While the plan didn’t take off in Nagpur roads with drivers even reportedly returning the vehicles, Ola has stuck to its plan to bring 1 million Electric Vehicles on Indian roads by 2022. This venture seems to be a part of Ola’s bigger plans of doing more than just putting cabs on the roads. Through Ola Electric, the company has already partnered with several OEMs and battery manufacturers, while looking at working with the automotive industry for solutions for electric vehicles. According to the company’s official statement, they are currently running several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, electric 2-wheeler and 3-wheeler services amongst others. “At Ola Electric, our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create millions of new jobs and economic opportunity, and lead the world,” said Bhavish Aggarwal, Co-founder &amp; CEO, Ola in an official statement. Ola Electric is headed by Anand Shah, a former senior executive from the auto industry, and Ankit Jain, who headed Ola’s connected vehicle platform. While Ola has responded to the Mahindra challenge, it remains to be seen how fast Uber can react to the growing competition. See Also: <a href="https://www.businessinsider.in/uber-and-ola-have-a-new-challenger-in-india-and-its-a-large-car-maker/articleshow/68163955.cms">Uber and Ola have a new challenger in India – and it’s a large car maker</a> <a href="https://www.businessinsider.in/chairman-of-mahindra-group-that-makes-electric-cars-upsells-indias-performance-on-paris-pact-on-climate-change-at-wef-2019-davos/articleshow/67656856.cms">At Davos: India's pioneer electric car maker is pushing for action against climate change</a>

You Searched For "Ola funding" and got 12 results

Ola is pumping Rs 200 crore to increase fleet of CNG cabs in Delhi-NCR

BI India Bureau

Ola raises nearly $50 million from New York-based hedge fund; valuation to go over $3 billion

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

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Ola raises Rs 670 crore in fresh funding; Ratan Tata pumps Rs 267 crore

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Ola to get ammunition to counter rising Uber; may get $400 million investment from Tencent

BI India Bureau

Ola’s investors back its electric company – Ola Electric – welcome it to the unicorn club

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Former Vodafone Group CEO Arun Sarin invests in Ola Electric

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Ratan Tata likely to lead $100 million funding round in Ola; valuation may touch $3.5 billion

BI India Bureau

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

PTI

COVID-19: Ola launches fund to help drivers, CEO to forego a year salary

PTI

Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount

Sanchita Dash

Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?

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