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An industry source said the funding was part of an overall $500 million the company is planning to raise, which will value Ola at around $5 billion.
A guilty verdict could impact Google's growth in India
Vodafone India said on Friday it would launch fourth-generation (4G) mobile phone services in the country by the end of the year.
Lenovo Group Ltd said on Tuesday it was establishing a smartphone assembly unit in India.
The government has filed a lawsuit against Swiss food firm Nestle's Indian unit, seeking Rs 640 crore ($99 million) in damages on behalf of consumers after the country's worst packaged food scare in a decade.
Hindustan Unilever, the Indian subsidiary of the consumer goods company, has denied wrongdoing.
Nestle India said in a statement on Friday that its managing director for India, Etienne Benet, would move to the group's head office in Switzerland.
For years, India has been a low priority for Apple as spending power is weaker than in China
The US is the biggest market for the outsourcing industry.
Reliance Industries Ltd plans to sell a 3.1 per cent stake, worth $32 million at the current market price, in unit Network18 Media & Investments.
India's $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector.
The push to connect India and drive a national fibre optic network, first approved by the last government in 2011, has made slow progress
Ola did not disclose financial details of the investment.
A source said the deal would see Alibaba invest around $600 million
Food safety has hit headlines in India after government food safety inspectors found excess lead in packets of Nestle's Maggi instant noodles.
Rivals like Cognizant Technology Solutions Corp and Infosys Ltd have also sharpened focus on the healthcare sector
All the existing microfinance businesses of the company and clients will be transferred to the bank
The shareholders will also get one redeemable preference share in Vedanta Ltd
Foxconn has said it is aiming to develop 10-12 facilities in India, including factories and data centres, by 2020
Alibaba, the world's biggest e-commerce firm by transaction value, supports small businesses on its platforms.
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