Total amount raised
$5 Billions
Latest funding date
Location
Ola has successfully raised significant funding through multiple rounds, including its latest Series J. The company operates a comprehensive mobility platform that integrates city transportation for customers and driver partners.
Keep reading to explore the intricacies of Ola's fundraising journey and the investors backing this innovative platform.
What Is Ola?
Ola, founded in December 2010 by Bhavish Aggarwal, Ankit Bhati, and Pranay Jivrajka, is a leading mobility platform based in Kormangala, Karnataka, India. The company integrates city transportation for customers and driver partners, offering a range of services from city taxis to outstation travel.
With a workforce of over 10,000 employees, Ola operates in more than 250 cities across India, Australia, New Zealand, and the UK. The platform allows users to book cabs, auto-rickshaws, bikes, and shuttle buses through its mobile application available on Windows, Android, and iOS.
Ola's innovative approach has made it a significant player in the ride-hailing industry, continuously expanding its services to meet diverse customer needs. The company also offers electric scooters, insurance, and a postpaid payment option, further enhancing its comprehensive mobility solutions.
How Much Funding Has Ola Raised?
- Series J
- Amount Raised: ₹1.5B
- Date: February 2022
- Lead Investors: Arrow Capital Partners, Axis Asset Management Company, Segantii Capital Management
- Valuation at Round: $7.15 billion - $7.3 billion
- Motivation Behind the Round: Preparing for an IPO and expanding into the used car segment.
- Debt Financing
- Amount Raised: $500M
- Date: December 2021
- Lead Investors: SoftBank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
- Series J
- Amount Raised: $139M
- Date: December 2021
- Lead Investors: Edelweiss Financial Services
- Valuation at Round: $6.6 billion
- Motivation Behind the Round: General fundraising as part of Series J.
- Private Equity Round
- Amount Raised: $500M
- Date: July 2021
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
- Series J
- Amount Raised: $5.1M
- Date: September 2019
- Lead Investors: ARK Ola Pre IPO Private Investment Trust
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
- Series J
- Amount Raised: $11.4M
- Date: July 2019
- Lead Investors: Deshe Holdings, DIG Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
- Corporate Round
- Amount Raised: $300M
- Date: March 2019
- Lead Investors: Hyundai Motor Company, Kia Motors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expansion and development of the electric vehicle segment.
- Series J
- Amount Raised: ₹6.5B
- Date: February 2019
- Lead Investors: Sachin Bansal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
- Series J
- Amount Raised: ₹1.1B
- Date: February 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
- Series J
- Amount Raised: ₹6.7B
- Date: January 2019
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising.
Ola has raised a total of $2.5 billion with a current valuation of $7.3 billion.
Key Investors
- Arrow Capital Partners
- Details: Arrow Capital Partners is a global investment firm that focuses on real estate and private equity. They have a strong presence in Europe and Asia-Pacific.
- Investment Focus Areas: Real estate, private equity, infrastructure.
- Notable Investments: Not publicly disclosed.
- Axis Asset Management Company
- Details: Axis Asset Management Company is a leading asset management firm in India, offering a range of investment products. They are known for their expertise in mutual funds and portfolio management.
- Investment Focus Areas: Mutual funds, portfolio management, alternative investments.
- Notable Investments: Swiggy, Ola.
- Segantii Capital Management
- Details: Segantii Capital Management is a Hong Kong-based investment firm specializing in multi-strategy investments. They manage a diverse portfolio across various asset classes.
- Investment Focus Areas: Multi-strategy investments, hedge funds, private equity.
- Notable Investments: Not publicly disclosed.
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company known for its investments in technology, energy, and financial sectors. They are one of the largest investors in tech startups globally.
- Investment Focus Areas: Technology, telecommunications, energy.
- Notable Investments: Uber, WeWork, Alibaba.
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean investment company with a diverse portfolio. They focus on sustainable and long-term investments across various sectors.
- Investment Focus Areas: Technology, financial services, healthcare.
- Notable Investments: Alibaba, Airbnb, Ola Electric.
What's Next for Ola?
Ola's future is brimming with opportunities, particularly in the electric vehicle (EV) market and the launch of a super app. The EV segment, valued at nearly $2.3 billion, promises significant growth, especially with plans for electric cars and local battery cell manufacturing. Additionally, the super app aims to integrate personal finance and microinsurance, potentially revolutionizing the user experience.
As Ola prepares for its IPO, further fundraising rounds are anticipated, with continued interest from institutional investors. However, challenges such as a significant drop in operating revenue and high expenses remain. The competitive landscape, especially in EVs and ride-hailing, will test Ola's resilience and adaptability.
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