Intraday Tips, Ola Raises $350 Million at Valuation of $3.5 Billion

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Ola, India's home grown online cab aggregator, has raised a fresh bout of funding with its existing as well as new investors. The cab aggregator raised funds to the tune of USD 350 million at a lower valuation of USD 3.5 billion, down from the highs of USD 5 billion it enjoyed earlier. Founded in 2010 by two IIT-Bombay graduates Bhavish Aggarwal and Ankit Bhati, Ola has been on the lookout for funding in the market since last six months at a valuation of USD 5 billion. However, the cab aggregator could only convince investors to raise USD 350 million at a valuation of USD 3.5 billion.