Ola raises $500 mn from Baillie Gifford, SoftBank & others

New Delhi: Taxi aggregator Ola has raised $500 million (around Rs 3,299 crore) from Baillie Gifford, Tiger Global, SoftBank Group and others to fuel capacity building and drive new use cases as it up the ante to compete with rivals like US-based Uber and homegrown Meru. Sources said that Singapore’s sovereign wealth fund GIC also participated in the latest round of funding that values the company at about %5 billion. Ola co-founder and CEO Bhavish Aggarwal told PTI that the company has grown by over 30 times in the last one year with over one million booking requests a day.