Indian ride - hailing service Ola has reportedly secured $ 100 m in funding , valuing the company at around $ 5000 . Ola has also introduced its bike service to Agra in the Uttar Pradesh state of India – becoming the fourth city in the region and 17th city across India to benefit from the service. The investment was led by Hong Kong - based private equity firm Phoenix Capital , and the China - Eurasian Economic Cooperation Fund , who together will hold a stake of over 1 % in the firm . Ola raised $ 1.1bn from Tencent , Softbank and other China - based investors , and Uber 's rival is eyeing further investment of at least $ 1bn , with more funding expected to be announced in the coming months . The news comes as the company announced it will launch in New Zealand , having already introduced the service to Australia and the UK .
Indian ride - hailing service Ola has reportedly secured $ 100 m in funding , valuing the company at around $ 5000 . The investment was led by Hong Kong - based private equity firm Phoenix Capital , and the China - Eurasian Economic Cooperation Fund , who together will hold a stake of over 1 % in the firm . Ola raised $ 1.1bn from Tencent , Softbank and other China - based investors , and Uber 's rival is eyeing further investment of at least $ 1bn , with more funding expected to be announced in the coming months . The news comes as the company announced it will launch in New Zealand , having already introduced the service to Australia and the UK .