Ola Financial Services, the financial arm of ride-aggregator Ola cabs recently announced that it has raised ₹200Cr in fresh funding from Matrix Partners and Falcon Edge. According to regulatory filings, Gemini Investments LP, Arun Sarin’s family office, and Alpha Wave Holdings also participated in the round.The company is currently in its fundraising mode and is…
Indian unicorns are now struggling to keep their businesses afloat. Layoffs and salary cuts have now become a daily news from these new-age startups. Joining the likes of Swiggy, Zomato, and Uber, ride-hailing Indian unicorn Ola has decided to lay off staff. In a company blog post written by the CEO Bhavish Aggarwal, it was…
Ride hailing companies have been facing severe revenue losses due to the lockdowns imposed by the central government for the containment of the coronavirus. The recent extension of the lockdown, however, brought some relief for these companies. After almost 50 days of suspension of services, companies like Ola and Uber are back in business as…