SoftBank is all set to invest Rs. 2000 crore in homegrown taxi hailing service Ola, according to a latest report from Economic Times. Ola may raise USD 250-300 million in a new round of funding led by the Japanese telecom and Internet major, and other existing investors may also participate.
In November last year, Ola secured$500 million in funding in November last year which valued it at about $5 billion. Ola currently claims reach across 102 cities, allowing users to book from over 450,000 vehicles on board. The latest round of funding comes at a time when Uber is stepping up its investment in the country.
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