Ola, the India-based online taxi hailing service backed by telecommunications and internet company SoftBank, has secured $315m in new funding according to a regulatory filing yesterday.
Investment firm DST Global put up $207m of the cash, with other investors in the round including Tiger Global, which invested $40.7m, Steadview Capital ($10.5m), Accel Partners ($5.1m) and ABG Capital ($4.7m).
The company has not revealed a valuation for the funding, though reports last month speculated it was set to raise $400m at a $3bn valuation.
Ola, which was founded in 2011 as Olacabs, is the market leader in India having paid $200m to acquire rival TaxiForSure last month. It currently operates in more than 80 cities and aims to increase that figure to 200 by the end of this year.
The funding follows a $210m series D investment by SoftBank in October 2014 at a valuation of close to $1bn.
Prior to SoftBank’s investment, Ola had previously raised more than $65m from investors also including Matrix Partners, Sequoia Capital, Steadview, Kunal Bahr, who is the founder of e-commerce company Snapdeal, and DST Global founder Yuri Milner.