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Didi Kuaidi Confirms Investment In Ola

Didi Kuaidi Confirms Investment In Ola

Didi Kuaidi has confirmed that it has invested in Ola. The amount of investment has been left undisclosed. However, earlier in the month, TOI had reported that Didi would invest somewhere around $30 Mn in Ola.

As per the reports sufficing the media, Ola was on a lookout to raise over $500 Mn at a valuation of $5 Bn to expand in the country. Of which Ola had raised $225 Mn led by existing investor Falcon Edge Capital. Besides, Tiger Global Management LLC, Softbank and six other investors also participated in the round.

“Didi Kuaidi believes both India and China are rapidly developing countries, with enormous market potentials,” the company said in a statement.” It further added, “Didi Kuaidi looks to engage local industry champions like Ola to share technology and best practices in product development and operational expertise – all honed from deep market data-driven operations.”

Didi will join Ola’s existing investors which include Falcon Edge, GIC, Tiger Global Management and SoftBank in the latest funding round.

Related Read: Didi Kuaidi To Invest In Ola To Take On Their Common Rival Uber


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Akanksha Pahwa

Inc42 Staff

Passion for writing and inclination of being updated in technology brings Akanksha together to be a content writer. Her prior experience in PR firms widens her genres in Media planning, Corporate Communication and Research Analyses.

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