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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.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
Japanese telecom major would invest $50 mn in the start-up in 'December or latest by January'.
The latest round of funding values the company at $10.7 billion, almost doubling it from the $5.5 billion valuation during the $1.25 billion fund raise in July 2021 when investors including SoftBank, Prosus and Accel pumped in capital in what was the company's biggest funding since its inception. The other new investors in the latest round of funding include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group and Segantii Capital, Swiggy said in a statement.
The standout performers for DC with the ball were Kuldeep Yadav (2-17 in 4 overs) and Vipraj Nigam (2-18 in 4 overs).
The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2, with participation from the company's long-term investor, Prosus, and other existing investors Accel Partners and Wellington Management, Swiggy said in a statement. In addition, new investors Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac participated in the round, it stated. This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy's rapid recovery from the impacts of COVID-19 and subsequent growth in 2020-21, Swiggy said.
Investments by private equity and venture capital funds in November stood at $6.8 billion across 102 deals, which is double by value when compared with the pandemic-impacted year-ago period but half of the bets in the preceding month of October, as per a report. In November 2020, such high-risk investors had infused $3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data shared by industry lobby IVCA and the consultancy EY said. The overall investments in the first 11 months of the year have touched $72.6 billion, which is 53 per cent higher than the all-time high for a year achieved in 2020, it said.
With Nikesh Arora's exit from Softbank, India's start-ups have lost one of its biggest supporters.
Ola competes with Uber Technologies in India.
Vogo, which has a fleet of over 12,000 vehicles mainly across Hyderabad, Mysuru and Bengaluru, is also betting big on India's growing traffic congestion.
India's good fortune, experts in the US feel, is not the result of a fundamentally strong economy, but because it is the best of a bad set of options.
The family office category was up 38 per cent, led by names such as Ratan Tata, Ronnie Screwvala and various Infosys co-founders.
Currently the average expected time of arrival for Ola vehicles is five minutes.
The Rs 100 crore infusion will well-capitalise the company to drive its new strategy and growth plans.
Deal values have been falling steadily since May this year, when it touched a high of $851 million.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
It quickly went from being a darling of investors to a liability
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Investors spent much of 2016 cleaning house. And a VC tells Ranju Sarkar, "There's still some bad news left in the portfolios (of VC firms). What happens to Ola and Flipkart will drive sentiment in future."
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
