Ola in Conversation With Microsoft for $200 M Funding

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Ola is in serious talks with Microsoft to increase about USD 150-200 million (about Rs 1,050-1,400 crore) in funding, as told by an expert.

The talks are at a superior degree and expected to be concluded in the following 10-15 days, the experts privy to the community said.

Emails sent to Ola did not evoke any answer, while Microsoft refused to clarify.

In 2017, Ola and Microsoft had linked to create a new combined vehicle program for carmakers globally.

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One of the experts said the two organizations will proceed to their deep technology cooperation in fields like cloud, and will also collaborate on arising mobility technology, particularly linked transportations.

Ola – which has about 200 million passengers using the services across India, the UK, Australia, and New Zealand – had lately declared setting up an analysis unit in the Bay Area of the US to focus on distinct regions like e-vehicles and associated cars.

The ride-hailing field, which is secured in a fight for business management with US-based Uber in India, has proposed about USD 3 billion in funding.

Its investors incorporate Ratan Tata, Sachin Bansal, Kia Motors, Hyundai Motor Company, Tencent Holdings, SoftBank and others.

The group, in September this year, had earned Rs 35.8 crore in Series J round from ARK Ola Pre IPO Fund. It had given 16,885 shares of Rs 10 each to the entity at a premium of Rs 21,240 apiece.

Bengaluru-based Ola has continued operating on becoming successful as it prepares to begin an IPO in the subsequent years.

The organization further than halved its downfalls to Rs 2,842.2 crore, while increasing its income by 61 percent to Rs 2,222.6 crore during 2017-18 covering the past fiscal, as per governing records.

This month, Ola also declared the launch of its self-drive car-sharing program, Ola Drive. Ola, which currently demands to be holding over 200 million subscribers, is seeing to on-board over 20,000 cars by 2020. The company will also be spending $200 million for Ola Drive’s enlargement.

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