 "Ola raises Rs 1,675 crore from SoftBank in fresh funding")
SoftBank has pumped $250 million into Ola, Uber’s Indian rival, documents filed with the Registrar of Companies reveal. Tech in Asia had earlier reported that Ola had secured Rs 1,675 crore ($330 million) in fresh funding, at a valuation of $3.5 billion, 30 per cent lower than its previous valuation.
This comes a year-and-a-half after Ola’s last major funding of $500 million in November 2015. Last year was tough with SoftBank writing down its investment in Ola.
