NEW DELHI, Apr 16: Cab service provider Ola today said it has raised 400 million dollar from a consortium of investors led by Russian venture capital firm DST Global. ”The money will help Ola boost its position in taxi services business in India and also enter new enterprises such as logistics,” the company said in a statement. The company said it has raised 400 million dollar from consortium of investors led by DST Global with participation from GIC, Falcon Edge Capital and exisitng investors Soft Bank group, Tiger Global Management, Steadview Capital and Accel Partners,US. Ola has now raised roughly 800 million dollar over the past year, it said. ”Of the overall 400 million dollar announced, 100 million dollar would go towards expansion and growth of its TaxiForSure arm,” it said. The money will also go towards expansion of its Ola brand as it plans to reach out to 200 cities by the end of the year, the company said.
(UNI)
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