The layoffs will mainly be in the company's product and engineering functions.
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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.
Apple Inc said it had hired over 11,000 women globally in the past year - 65 per cent more than the previous year - to boost employee diversity.
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
Microsoft Corp said on Wednesday it would cut 7,800 jobs and write down about $7.6 billion related to its Nokia handset business, which it acquired in 2014.
The US is the biggest market for the outsourcing industry.
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
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.
Car makers are trying hard to boost sales in India.
India's tech start-ups are following Silicon Valley's lead and embracing the "fail fast" culture.
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