Chinese investors commit $50m to India’s Ola
Indian ride-hailing app Ola has raised a $50 million round of funding from Sailing Capital and the China-Eurasian Economic Cooperation Fund (CEECF), a vehicle backed by the Chinese government to support the One Belt One Road (OBOR) initiative.
The round values Ola at around $4.3 billion, according to filings with India’s Registrar of Companies cited by various media sources. The investors will have a combined stake in the company of just over...
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