India: Ola raises $50m from new Chinese investors at $4.3b valuation

India: Ola raises $50m from new Chinese investors at $4.3b valuation

Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, poses in front of an Ola cab in Mumbai March 3, 2015. REUTERS/Shailesh Andrade/File Photo

India’s largest cab-hailing service Ola (ANI Technologies Pvt Ltd) has raised $50 million at a valuation of roughly $4.3 billion from Hong Kong-based Sailing Capital and China-Eurasian Economic Cooperation Fund (CEECF), as part of the the SoftBank-backed start-up’s broader move to raise fresh funds of at least $1 billion.

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