India Digest: Falcon Edge eyes Stanza Living; Ola spends $60m on overseas ops

Photo: Ola website

In the startup funding space, Falcon Edge Capital is looking to invest up to $30 million in student accommodation startup Stanza Living. Meanwhile, Ola has invested about $60 million over the last 15 months in ramping up its overseas operations.

Falcon Edge may invest $30m in Stanza Living

New York-based investment firm Falcon Edge Capital is looking to invest up to $30 million in Delhi-based student accommodation startup Stanza Living, The Economic Times reported.

Stanza Living, which counts Sequoia Capital, Accel Partners and Matrix Partners among investors, is reportedly eyeing a funding round of $50 million. Other US- and Asia-based private equity funds and hedge funds are also looking to invest in the round.

The financing proceeds will be used to strengthen scale and operations in existing cities, enhance its tech platform and to acquire competitors in the segment, the report said.

Ola injects $60m in overseas operations

Indian ride-hailing platform Ola has invested about $60 million over the last 15 months in ramping up its overseas operations, that account for more than a third of the company’s consolidated revenue, The Economic Times reported.

Ola, which competes with America’s Uber across markets like Australia, New Zealand and the UK, has largely spent money on technology, people and call centres serving these markets, the report said citing filings with Singapore’s Accounting and Corporate Regulatory Authority.

Ola has housed its international businesses in New Zealand, Australia, UK, Sri Lanka, Bangladesh and the US under Ola Singapore.