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Ola Raises $ 36 Million From New York Based Hedge Fund

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Ola Business Raises,New York Based Hedge Fund,Hedge Fund,ola latest news,Ratan Tata,Ola CEO,ola cab news,Startup Stories,Latest Business News 2017

Ola, homegrown cab hailing startup, has raised $ 36 million from Tekne Capital Management, a New York based hedge fund, according to filings with the Registrar of Companies.

VCCircle reported, the company allocated 171,173 fully and compulsorily convertible preference shares at Rs. 13,521 apiece. Delaware based Tekne Private Ventures III LP invested Rs. 167.15 crores for about 1.23 lakh shares while 47,548 shares worth Rs. 64.28 crores were issued to Tekne Private Ventures I Master from the Cayman Islands.

The new shares were allotted at the same price at which Ola raised $ 104.4 million from Falcon Edge Capital and Ratan Tata’s RNT Capital Advisers. According to the filings, these shares were allocated on 7 June 2017, after a board resolution was passed on May 29. Ola’s valuation could not be ascertained as it is not clear whether this investment is a part of a larger funding round or if more investors are involved. In August 2015, Ola was valued to be close to $ 4.8 billion while media reports in February this year pegged its valuation to be around $3.5 billion.

In April this year, the cab aggregator company raised $ 250 million from Japan’s SoftBank Group Corp., making SoftBank Ola’s largest investor. They also raised $50 million (Rs. 322 crores) from Tekne Capital Management LLC., and were in talks with Coatue Management LLC., for raising more funds.

Ola and US based Uber Technologies Ltd., have been locked in a fierce battle to capture India’s lucrative cab hailing market. Ola has also launched local innovations better suited for the Indian market, including a bike taxi service, Ola Bike. It was also reported, Microsoft was likely to invest $50-100 million in Ola, resulting in Ola switching to Microsoft’s cloud computing platform Azure from Amazon Web Services.

For the financial year 2015 – 2016, Ola’s operating revenue jumped to Rs. 438.6 crores from Rs. 57.5 crores while their consolidated net loss tripled to Rs. 2,311.7 crores. The total expenditure surged to Rs. 3,078.19 crores from Rs. 899.7 crores the year before. At present, Ola operates in 100 Indian cities while Uber has a presence in only 29 cities.

 

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Dunzo Gets Breather as NCLT Rejects Insolvency Petition from Invoice Discounters

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Dunzo

The National Company Law Tribunal (NCLT) Bengaluru bench has dismissed an insolvency plea filed against quick commerce startup Dunzo by its invoice discounters, declaring the petition “not maintainable” after several postponements. This decision offers temporary relief to Dunzo, which has been facing multiple insolvency petitions from various creditors, including Velvin Packaging Solutions and Betterplace Safety Solutions, over unpaid dues.

The invoice discounters alleged that Dunzo had paid only 50% of the required amounts, though the exact sum was not disclosed. Despite ongoing settlement talks, no resolution was reached, and the tribunal noted Dunzo’s delays in responding to creditor petitions. Dunzo continues to grapple with severe liquidity issues, delayed payments, and significant losses—reporting a ₹1,801.8 crore loss in FY23 and owing approximately ₹11.4 crore to major vendors like Google India and Facebook India.

While this NCLT ruling provides Dunzo some breathing room, the company still faces ongoing financial and operational challenges as it works to resolve its outstanding liabilities.

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How a Golden Retriever Became the Heart and Soul of a Hyderabad Startup’s Workplace

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Golden Retriever in workplace

Hyderabad-based startup Harvesting Robotics has won hearts online by appointing a golden retriever named Denver as its Chief Happiness Officer (CHO). Denver, introduced by co-founder Rahul Arepaka in a viral LinkedIn post, has quickly become the star of the office, spreading joy and boosting morale among employees. The company is now officially pet-friendly, a move Arepaka calls their “best decision.”

Denver’s new role has sparked widespread attention, with thousands liking and commenting on the announcement. Many see Denver’s presence as more than just a cute story—it highlights a growing trend of pet-friendly workplaces that prioritize employee well-being and happiness. As companies increasingly focus on holistic wellness, Denver’s appointment shows that sometimes, a wagging tail is the best way to brighten the workday.

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Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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