Hotline: 1800 102 2007
X
Search Business Opportunities
2013-11-14

Olacabs raises Series B funds from Matrix Partners India, Tiger Global

Olacabs of ANI Technologies Pvt Ltd, an aggregator of car rentals and point-to-point cab services announced that it has raised Series B funding from Matrix Partners India and existing investor, Tiger Global Management. Ola will use these funds to expand their operations to newer markets and to deepen its technology and analytics expertise. Olacabs had earlier raised Series A funding from Tiger Global Management in April 2012.

Olacabs of ANI Technologies Pvt Ltd, an aggregator of car rentals and point-to-point cab services announced that it has raised Series B funding from Matrix Partners India and existing investor, Tiger Global Management. Ola will use these funds to expand their operations to newer markets and to deepen its technology and analytics expertise. Olacabs had earlier raised Series A funding from Tiger Global Management in April 2012. 

 

Bhavish Aggarwal, co-Founder and CEO, Olacabs said, “We are excited to bring Matrix Partners India on board along with Tiger Global as key investors. Matrix as a partner has a portfolio of high pedigree investments and rich experience in emerging markets. Combined with the rich global expertise of our existing investor, Tiger Global, this partnership gives us the support and resources to grow rapidly at the pace we intend to. We will continue to create substantial value for our customers in terms of the Ola experience and for our drivers / operators by helping them buy their own cars and improving business for them thereby nurturing micro-entrepreneurship.”

 

“Ola is leveraging technology to revolutionize ground transportation and is aggregating the highly fragmented cab & car rental market - one of the large travel verticals yet to be organized in India. It is our privilege to be associated with Bhavish Aggarwal and Ankit Bhati, the co-founders of Olacabs, who have built a scalable platform for online cab bookings. This platform provides a public utility by allowing Indian consumers to experience a safe, comfortable, standardized service offering at transparent and competitive prices.” said Avnish Bajaj, co-Founder and Managing Director, Matrix India.

Related opportunities
  • Quick Service Restaurants
    About Us  Wafflin' Around is a waffle cafe in the heart..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Competitive Exam Coaching Institute
    OASIS EDUCATIONAL SERVICES – now a pioneer in the arena..
    Locations looking for expansion Delhi
    Establishment year 1992
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 1800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Pots and Pans, Launched promoted in India by Meyer..
    Locations looking for expansion New Delhi
    Establishment year 1997
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
  • Casual dine Restaurants
    About Us: Manbhavan means ‘pleasing mind’ and we do it by..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 1600
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Nashik Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts