India ’s self - hailing app ##liance is due to accept a new round of funding at a lower valuation as it attempts to raise funds to guard against the local growth of Uber , its largest rival . The company has been valued anywhere between $ 3bn and $ 4bn in its latest funding round led by investor SoftBank , having previously been valued at $ 5bn this round last year . Ola is seeking $ 750 m in this round , which could increase to $ 750 million if new investors invest heavily .
India’s ride-hailing app Ola is due to accept a new round of funding at a lower valuation as it attempts to reserve capital to guard against the local growth of Uber, its largest rival. The company has been valued anywhere between $3bn and $4bn in its latest funding round led by investor SoftBank, having previously been valued at $5bn this time last year. Ola is seeking $500m in this round, which could increase to $750m if new investors invest heavily.