Uber’s major rival in India just raised $1.1 billion

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While Uber faces five criminal investigations, its rival in India is ready to fight. 

Ola, the six-year-old ride-hailing company that operates in over 100 cities throughout India, just raked in $ 1.1 billion from major investors. And another billion could be on the way. 

Chinese internet giant Tencent led the funding round, which included participation from SoftBank, which has been on its own major investing spree as of late. Ola is in “advanced talks” with other investors to close an additional $ 1 billion as part of this funding round, pushing its raise over $ 2 billion, Ola said in a press release.  Read more…

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