The SoftBank-backed taxi hailing service has raised $85m to close its series E round at $400m, and will use the funding to expand its network to 200 cities.
Ola, an India-based taxi hailing service backed by telecommunications and internet company SoftBank, has extended its series E round from $315m to $400m, TechCrunch reported yesterday.
GIC, the sovereign wealth fund of Singapore, and equity hedge fund Falcon Edge Capital provided the additional funding. DST Global led the series E round, having invested $207m, while Tiger Global, Steadview Capital, Accel Partners and ABG Capital also participated.
The round values the company at $2.5bn, and follows a $210m series D investment…
