India-based mobility platform Ola has landed an investment $500 million ahead of its planned flotation.
The funds come from Temasek and Plum Wood Investment, as well as Ola’s founder Bhavish Aggarwal.
According to a statement Ola will continue to expand its ride-hailing business “across various categories and geographies.”
Ola expanded its platform to corporate customers outside India a year ago opening it up to markets including the U.K. and Australia.
Bhavish Aggarwalc, chairman and group CEO, Ola says: “Over the last 12 months we’ve made our ride hailing business more robust, resilient and efficient. With strong recovery post lockdown and a shift in consumer preference away from public transportation, we are well positioned to capitalize on the various urban mobility needs of our customers.”