Ola has raised $500 million after the lockdown

Ola is a ride-hailing giant all over the world and it has announced raising 500 million dollars from new investors. The new investors of Ola include Temasek, which is a Singapore based company that affiliates global private equity farms and Warburg Pincus, while is also a company for the same. This investment has raised after a long gap of two years when Ola has finally succeeded to raise 150 million dollars as a profit in its J Series. The investors have also shown interest to invest in Ola after its net value has become more than 5 billion dollars.

The CEO of Ola Bhavish Aggarwal has also taken part in the investment in his company. He has also founded his own project. This investment is known as a secondary share sale. The previous investors of Ola were Tiger Global and Matrix Partners, who have recently reduced their investments in Ola.

The headquarter of Ola is in Bengaluru. The headquarter has informed that the present fundraising has come forward for its IPO and also it hasn’t disclosed the timeline as to when the company will list out the stock exchanges of this year. While the other start-up company has tripled their market value from the time they started for their public issues. But Ola has never announced its net value since the starting of the pandemic, from when the profit of the company started to decline.

Till now Ola has not been properly recovered from its losses. The spokesperson of Ola has said that there could have been more fundraising as they have made their service more efficient in the post-lockdown situation. Ola is looking forward as in this pandemic situation people are preferring to travel in cabs than in public transport.