Ride sharing service Ola, which had reportedly raised $225m in series F funding as of two weeks ago, has received an undisclosed sum from its China-based peer.
China-based ride sharing service Didi Chuxing invested an undisclosed sum in India-based counterpart Ola today to extend its reach across Asia.
Founded in 2010 as Olacabs, Ola’s mobile app is responsible for more than 750,000 journeys each day across India, where it holds a market share of about 80%. Didi Chuxing’s funding will support expansion across India, with $75m going to its recently announced car leasing initiative.
Although the precise amount invested by Didi Chuxing, known as Didi Kuaidi until…
