Ola raises $500 million to fund expansion

Bengalur: Leading mobile application-based cab service provider Ola has announced raising of $500 million (Rs.3,306 crore) to fund its expansion plans, including capacity building.

“The fresh investment will be used to fuel supply initiatives, capacity building and newer use cases,” the company said in a statement here.

The sixth (series F) round of funding was led by venture partners Baillie Gifford, Tiger Global, SoftBank group and DST Global.