Ola (formerly Olacabs), a Bangalore, India-based taxi-hailing cab app, raised $500m in Series F funding.
Backers included Baillie Gifford, Falcon Edge Capital, Tiger Global, SoftBank Group, DST Global and Didi Kuaidi.
The company intends to use the funds to further accelerate its growth in the Indian market.
Founded in Jan 2011 by CEO Bhavish Aggarwal and Ankit Bhati, Ola provides a mobile app for personal transportation. Using the platform, users across 102 cities can book from over 275,000 cabs, 75,000 auto rickshaws, Kaali Peeli taxis and yellow taxis on its platform.
The app is available on Windows, Android and iOS platforms.
Ola recently acquired TaxiForSure, India’s second largest cab aggregator, which continues to operate as an independent brand.