Ola, one of the largest online and mobile-based taxi booking startups in India, has scooped US$315 million in Series G round of funding, barely six months after the firm bagged US$210 million from Japanese Internet giant SoftBank Corp, according to a report by Business Standard.
The latest round was led by DST Global, a VC fund started by Russian billionaire Yuri Milner, the report added quoting Registrar of Companies (Government of India). According to the filing, DST invested about US$206 million in ANI Technologies (parent of Ola) followed by Tiger Global (U$40.65 million), Steadview Capital (US$10.5 million) and Accel Partners (US$5 million). The round also saw participations from US-based ABG Capital, beside Mauritius Investments and Rahul Mehta.
This brings Ola’s total funding raised to date to around US$600 million.
It is not immediately clear how Ola is planning to utilise the fresh capital. When contacted by e27, an Ola spokesperson declined to comment.
Started in 2011, Ola is an online marketplace for cabs, three-wheelers (auto rickshaw) and car rental services. Last month, Ola acquired its rival, Bangalore-based TaxiForSure, for US$200 million in a cash-and-stock deal to take on the likes of Uber and other smaller rivals.
As of last month, Ola had over 85,000 cabs and 30,000 autos in its network.
This is DST Global’s second investment in India. Earlier, it had infused funds into India’s largest e-commerce company Flipkart.