In brief: Ola heads to New Zealand following Australia and UK launches

Indian ride-hailing platform Ola said on Tuesday it plans to launch operations in New Zealand, and expand its overseas rivalry with US-based peer Uber.

The Indian startup was founded in 2011 and is backed by Japan’s Softbank Group. Ola first expanded its international operations with a foray into Australia and the UK earlier this year.

Source: Reuters

Ola reportedly just raised US$50 million in funding from China’s Sailing Capital and China-Eurasian Economic Cooperation Fund as part of a wider fundraising effort that could see it rake in US$1 billion.