Total amount raised
$5 Billion
Latest funding date
2/1/2022
Location
Ola has established itself as a significant player in the ride-hailing industry, offering a range of services from daily cab bookings to electric scooters. The company's journey through various funding rounds has been instrumental in its growth and expansion.
Keep reading to explore the intricacies of Ola's fundraising journey and the investors backing this innovative platform.
What Is Ola?
Ola, founded in 2011, is a prominent player in the ride-hailing and transportation services industry. The company operates in over 250 cities across India, Australia, New Zealand, and the UK, offering a variety of transportation options including bikes, autos, sedans, and SUVs.
Ola is also involved in electric mobility through Ola Electric and provides innovative payment solutions like Ola Postpaid+. The company emphasizes continuous innovation to enhance the experience and earnings of both riders and drivers.
How Much Funding Has Ola Raised?
- Series J
- Amount Raised: INR 1,500,000,000 (approx. USD 20 million)
- Date: February 2022
- Lead Investors: Arrow Capital Partners, Axis Asset Management Company, Segantii Capital Management
- Valuation at Round: $7.15-7.3 billion
- Motivation Behind the Round: Part of a pre-IPO round as Ola plans to go public this year.
- Debt Financing
- Amount Raised: USD 500,000,000
- Date: December 2021
- Lead Investors: SoftBank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital from international institutional investors.
- Series J
- Amount Raised: USD 139,000,000
- Date: December 2021
- Lead Investors: Edelweiss Financial Services
- Valuation at Round: $7.3 billion
- Motivation Behind the Round: General fundraising as part of Series J.
- Private Equity
- Amount Raised: USD 500,000,000
- Date: July 2021
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Expansion and development of the electric vehicle division.
- Series J
- Amount Raised: USD 5,100,000
- Date: September 2019
- Lead Investors: ARK Ola Pre IPO Private Investment Trust
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising as part of Series J.
- Series J
- Amount Raised: USD 11,370,000
- Date: July 2019
- Lead Investors: Deshe Holdings, DIG Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising as part of Series J.
- Corporate Round
- Amount Raised: USD 300,000,000
- Date: March 2019
- Lead Investors: Hyundai Motor Company, Kia Motors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Strategic partnership to develop electric vehicles.
- Series J
- Amount Raised: INR 6,500,000,000 (approx. USD 87 million)
- Date: February 2019
- Lead Investors: Sachin Bansal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising as part of Series J.
- Series J
- Amount Raised: INR 1,120,000,000 (approx. USD 15 million)
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising as part of Series J.
- Series J
- Amount Raised: INR 6,706,900,000 (approx. USD 90 million)
- Date: January 2019
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: General fundraising as part of Series J.
Total Amount Raised: USD 1,661,470,000
Current Valuation: $7.15-7.3 billion
Key Investors
- Axis Growth Avenues AIF
- Details: Axis Growth Avenues AIF is a fund managed by Axis Asset Management Company, focusing on high-growth investment opportunities. They have been active in various sectors, including technology and consumer services.
- Investment Focus Areas: Technology, consumer services, high-growth startups
- Notable Investments: Swiggy, Ola
- Arrow Multi-Asset Fund
- Details: Arrow Multi-Asset Fund is known for its diversified investment strategy, targeting multiple asset classes. The fund aims to balance risk and return through a mix of investments.
- Investment Focus Areas: Multi-asset investments, diversified portfolios
- Notable Investments: Ola
- Edelweiss Financial Services
- Details: Edelweiss Financial Services is a leading financial services company in India, offering a wide range of financial products and services. They have a strong presence in investment banking and asset management.
- Investment Focus Areas: Financial services, investment banking, asset management
- Notable Investments: Ola, Ola Electric
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They focus on delivering sustainable returns over the long term.
- Investment Focus Areas: Technology, electric vehicles, sustainable investments
- Notable Investments: Ola Electric, Ant Financial, Airbnb
- Sachin Bansal
- Details: Sachin Bansal is an Indian entrepreneur and co-founder of Flipkart, one of India's largest e-commerce platforms. He is known for his investments in various startups and technology companies.
- Investment Focus Areas: E-commerce, technology startups, financial services
- Notable Investments: Ola, Navi Technologies, Ather Energy
What's Next for Ola?
Ola's future is brimming with opportunities, particularly in the electric vehicle (EV) market. The company plans to launch an electric car and set up a local battery cell manufacturing unit, which could significantly boost its valuation and market presence. Additionally, Ola's expansion into the used car segment and the development of a super app to include personal finance and microinsurance are poised to open new revenue streams.
As Ola prepares for its initial public offering (IPO), the company is likely to attract substantial capital, further fueling its growth. The pre-IPO funding rounds and potential IPO could provide the necessary financial backing to support these ambitious projects. Ola Electric, already valued at $5 billion, may also see additional funding to support new product launches and manufacturing capabilities.
However, challenges remain. Ola must navigate the competitive ride-hailing and EV markets while managing financial sustainability. The company has seen a significant decline in operating revenue and must continue to reduce losses. Regulatory hurdles and execution risks associated with new ventures like the super app and used car segment also pose potential obstacles. Despite these challenges, Ola's strategic initiatives and upcoming IPO position it well for future success.
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