Ola Reportedly in Fresh Funding Talks; May Raise Up to Rs. 2,500 Crores

App-based taxi aggregator Ola is in talks to raise fresh funding of up to $400 million (about Rs. 2,500 crores) from a clutch of investors including DST Global, sources said.

Ola is locked in intense negotiations over the new round of funding as investors are closely "studying the firm's future plans," sources close to the development said.

This "may take a while" however, they said, adding that while there is "no doubt" that investors are interested in the firm but they are also considering various issues.

"They want to know Ola's plans on how they intend to retain and expand their driver base, considering that payment of commission to the drivers is a huge burden on any company's reserves," they said.

Another area that investors want clarity on is how the firm plans to expand the food delivery services and the impact on the firm's balance sheets, they added.

Ola declined to comment on the developments.

"So they are interested in the firm, but they are closely studying the growth and future prospects. TaxiForSure was taking a big hit in maintaining its fleet of cabs and paying commission to drivers. So, the investors are studying Ola's

plans on how it intends to deal with such issues," the sources said.

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