Ola said it was in advanced talks to raise another $1 billion from existing and new investors, thus rounding off what may turn out to be a $2 billion funding round. On Wednesday, Ola said it was in advanced talks to raise another $1 billion from existing and new investors, thus rounding off what may turn out to be a $2 billion funding round. Flipkart leads the charts, having raised at least $2.8 billion in two separate tranches from SoftBank, Tencent, eBay and Microsoft, while Paytm raised $1.4 billion from SoftBank earlier this year. With the latest round of funding, Ola plans to make strategic investments in its supply chain and technology, while also making significant investments into technologies such as artificial intelligence and machine learning. We look forward to helping Ola further develop India’s transportation solutions,” said Martin Lau, president of Tencent.

Source: Mint October 11, 2017 06:00 UTC