<article>Japanese investment giant <a href="http://dealstreetasia.com/tag/softbank" target="_blank" rel="noopener">SoftBank</a> is said to have offered to invest up to $1 billion more in Indian ride-hailing major <a href="http://dealstreetasia.com/tag/ola" target="_blank" rel="noopener">Ola</a>, operated by ANI Technologies Ltd.</article>

Japanese investment giant <a href="http://dealstreetasia.com/tag/softbank" target="_blank" rel="noopener">SoftBank</a> is said to have offered to invest up to $1 billion more in Indian ride-hailing major <a href="http://dealstreetasia.com/tag/ola" target="_blank" rel="noopener">Ola</a>, operated by ANI Technologies Ltd.
According to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/softbank-comes-calling-again-to-infuse-1-billion-in-ola/articleshow/66930093.cms" target="_blank" rel="noopener">a report</a> in The Economic Times quoting sources, it is uncertain if Ola co-founder Bhavish Aggarwal would be willing to accept more funds from SoftBank, which would enable the investment firm to increase its shareholding above the 26 per cent it holds at present.
However, Aggarwal may consider a smaller amount from SoftBank, they said.
Last October, Ola had raised $1.1 billion from SoftBank Group Corp. and Tencent Holdings Ltd, among others. At the time it had said that it would raise $1 billion more.
Reports had surfaced last year as well about SoftBank wanting to take a bigger piece in Ola, however the proposal was not agreed to by the promoters and other shareholders, who wanted to protect their interests. Potential investors are also said to be wary of any additional stake being given to SoftBank.
In 2016, Aggarwal had reportedly refused a $1-billion offer from SoftBank, to avoid relinquishing control to the Japanese group.
The latest entrant to show interest in investing in the Uber-rival is South African internet conglomerate Naspers LLC which is in talks to invest in Ola, at a valuation of $7-8 billion.
In September this year, Ola had raised $50 million at a valuation of $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund, as part of the $1-billion round. Ola has already got commitments from Flipkart co-founder Sachin Bansal and existing backer Steadview Capital, which totals up to around $200-250 million.
In July, Temasek had bought shares worth at least $30 million from former and early employees of cab-hailing service Ola as part of a secondary share sale, Mint reported. Temasek then reportedly bought the shares at a valuation of $2.5-3 billion. The Singapore firm, which has assets under management of $225 billion, is expected to invest further capital in the company in the future in primary and secondary rounds.
Ola has so far raised over $2.5 billion since it began operations in 2011.
Ola’s operating loss increased 32% to Rs 3,731 crore in fiscal 2017 while operating revenue more than doubled to Rs 1,178 crore.
The talks of the funding comes in the wake of Ola&#8217;s aggressive expansion plan to take on Uber in India as well as expanding overseas. The Bengaluru-based firm is also building up a strong food-technology business to compete against Swiggy and Zomato. It had earlier acquired the India operations of food delivery firm Foodpanda and had announced an investment of $200 million in the business.
According to The Economic Times report, Ola is also looking to invest in areas such as e-pharmacy where it is said be finalising an investment.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/ola-temasek-106329/" target="_blank" rel="noopener">Ola founders, Singapore’s Temasek close to upping stake in ride-hailing firm</a>
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Japanese investment giant SoftBank is said to have offered to invest up to $1 billion more in Indian ride-hailing major Ola, operated by ANI Technologies Ltd.

India: SoftBank said to offer $1b more funding to Uber-rival Ola

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India: SoftBank said to offer $1b more funding to Uber-rival Ola

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