Sunday , July 21 2019

Ola raises $300mn to take on Uber

Bloomberg

India’s Ola is raising $300 million from Hyundai Motor Group, giving the ride-hailing startup more capital to compete for drivers and customers against Uber Technologies just as the US rival prepares for an IPO.
The deal values Ola at about $6 billion, said a person familiar with the matter, asking not to be named. The Bangalore-based company will continue to raise funds and has term sheets from other investors, the person said.

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