6 years ago

Ola Raises $11 Million in Series J Round from DIG Investment Ab, Deshe Holdings, and Jabbar Internet Group Founders

  • Ola, the Indian ride-hailing company, has raised $11 million in its ongoing Series J round from investors such as Swedish-based DIG Investment Ab, US-based Deshe Holdings, and individual investors, including Samih Toukan and Hussam Khoury, both of whom are co-founders of Dubai-based technology investment firm Jabbar Internet Group

  • This latest investment is part of Ola's broader efforts to raise $1 billion in fresh funds

  • The company had earlier secured $100 million from Sachin Bansal in January this year in its ongoing Series J round

  • Ola's founder Bhavish Aggarwal is considered to be in a long-drawn boardroom battle with its largest shareholder, SoftBank, which had offered to invest more in Ola and increase its stake in the ride-hailing platform.

      • ProblemTransportation

      "Transportation services often lack reliability, affordability, and accessibility, leading to inefficiencies and frustration for users."

      Solution

      "Develops a multi-modal transportation platform offering ride-hailing, vehicle rentals, and other mobility services, leveraging technology to enhance convenience, affordability, and accessibility for commuters."

      Covered on