The Indian Wire » Startups » Ola in talks with Microsoft to raise around $150 million, says sources
Startups

Ola in talks with Microsoft to raise around $150 million, says sources

Ola, a ride-hailing unicorn platform, is reportedly in advanced discussion with Microsoft, a tech giant to secure around $150 – $200 million (approx INR 1,050-1,400 crore) in funding, reported ET, citing various sources.

The sources revealed that the talks are at an advanced level and likely to be closed in the upcoming 10-15 days.

The development comes to light merely 10 days after Ola announced its foray into self-drive car rental segment with launch of Ola Drive.

For details: Ola forays into self-drive car rental segment with launch of Ola Drive

Ola, Bhavish Aggarwal and Ankit Bhati-led was founded in December 2010 as an online cab services in Mumbai. It is an online transportation network company developed by ANI Technologies Pvt. Ltd. The company has been expanding its horizons with focus on credit over the last few years.

Ola offers commuters the option of both black cabs and private hire vehicles. The team claims to offer the highest driver rates in the region.

While, one of the sources said that the two companies will continue to their deep technology partnership in areas like cloud, and will also collaborate on emerging mobility technology, especially connected vehicles.

Furthermore, as per the sources, the Bengaluru-based Ola has been working on turning profitable as it plans to launch an IPO in the next few years.

Including Ola, other leading ride-hailing cab services include GrabUberGettMeru CabsCareem, and many more.

Reach out to The Indian Wire!

Want to work with us? Looking to share some feedback or suggestion? Have a business opportunity to discuss?

You can reach out to us at [email protected] and we will get back in minutes.

Like us on Facebook!