Ola Brings In $36 Million

Ola (Ani Technologies Pvt., Ltd), an Indian cab-hailing company, announced that it has raised $36 million in funding from New York-based hedge fund Tekne Capital Management.

Founded and launched in December, 2010, by IIT Bombay graduates Bhavish Aggarwal and Ankit Bhati, Ola is India’s most popular mobile app for transportation. The company’s competitive advantage lies in creating solutions specifically for the local dynamics of the Indian market. Its options include the ultra-affordable Ola Micro, flagship Ola Mini, premium Ola Prime, luxury Ola Lux, and shared mobility solutions like Ola Share and the Ola Shuttle. The company also offers hyper-local last mile connectivity solutions like auto-rickshaws, e-rickshaws, and Ola bikes.

With the new financing, the company has raised a total of $1.75 billion to date.