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Aya Lin · · 1 min readIn brief: Ola banks $11m from Jabbar Group founders, others
- Indian ride-hailing firm Ola raised US$11 million from Sweden’s DIG Investment, US-based Deshe Holdings, as well as Jabbar Internet Group co-founders Samih Toukan and Hussam Khoury, Livemint reported, citing documents from business information platform Paper.vc.
- “The current round of allotments appears to be part of Ola’s ongoing US$472 million series J round of financing that includes a US$238 million investment by Hyundai Motor Company and a US$62 million investment by Kia Motors Corporation,” said Vivek Durai, founder of Paper.vc.
- Ola has been raising fresh funds in tranches over the past few months, incuding a US$91 million raise from Flipkart co-founder Sachin Bansal, as part of its broader discussions to secure US$1 billion in new capital.
Editing by Charmaine de Lazo
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