Over the past few months, Ola has been raising capital in tranches as part of its broader discussions to raise $1 billion in fresh funds. With new names like Jabbar Internet surfacing in the ongoing round, it can be seen as an effort to diversify Ola’s investor base. The Economic Times reported in December that SoftBank had offered to invest $1 billion in fresh capital into Ola. The cab aggregator’s mobility arm Ola Electric Mobility Pvt. Ola Electric, which was incorporated in February 2017, is a wholly owned subsidiary of ANI Technologies.

Source: Mint July 03, 2019 13:52 UTC