Indian ride-sharing company Ola raises USD50 million from US-based hedge fund
Company sees momentum in funding interests after valuation drops by 30% to USD3.5 billion
The US-based hedge fund Tekne Capital Management has invested around USD50 million in Indian ride-sharing firm Ola, The Economic Times (ET) reported today (14 June), citing people familiar with the development. Apart from Tekne, another US-based hedge fund Falcon Edge and India’s RNT Capital Advisors participated in the latest round of fundraising. The latest round of funding increases Ola’s valuation to about USD3.65 billion, according to the ET report.
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here
