Ola gets $300 million investment from Hyundai, Kia; raises competition for Uber

Ola gets $300 million investment from Hyundai, Kia; raises competition for Uber
x

  • 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 Inc. just as the U.S. rival prepares for an initial public offering.
  • The deal values Ola at about $6 billion, said a person familiar with the matter, asking not to be named because the figures are private.
  • Last month, Ola announced an investment of more than $90 million from Sachin Bansal, co-founder of local e-commerce pioneer Flipkart Online Services Pvt.
  • Ola, founded in 2011 by Aggarwal and fellow founder Ankit Bhati, said it aims to create two million job opportunities in its ecosystem by 2022.


Next Story
Share it
Top
To Top