Connect with us

News

Ola Strengthens War Chest: In Talks With Temasek For Investment

Published

on

Ola Strengthens War Chest,Ola Talks With Temasek For Investment,Startup Stories,2018 Latest Business News,Sovereign Wealth Fund Temasek,India Largest Cab Aggregator Ola News,Ola and Temasek Business Updates,Ola Business News 2018,Temasek Funding

Ola, India’s largest cab aggregator company is in talks with Singapore based sovereign wealth fund Temasek to add $500 million-$1 billion to its war chest. This round will also see participation from other investors, according to sources close to the development.

This move comes after rumors surfaced regarding a potential investment by SoftBank in the Indian ride hailing major. This deal will value Ola at $ 6-7 billion and would also include a secondary sale of shares by a slew of investors. According to sources, investors who were given Ola stock after Ola’s acquisition of Taxiforsure will be selling their shares along with angel investor Rehan Yar Khan.

The Economic Times reported venture firms Accel India, Bessemer Venture Partners, Helion Venture Partners and the Taxiforsure founders Aprameya Radhakrishna and Raghunandan G., will be selling their stock as well. A local investment firm has been mandated for the sale with the secondary sale pegged at $150 million for a 5% stake. However, sources add, both the primary and secondary sales will be conducted parallelly so that the incoming investor would gain a sizable stake in the company.

Currently, Ola holds a market share of close to 65% – 70% and is locked in an intense battle against global cab aggregator Uber. In 2017, Ola raised $1.1 billion in a funding round led by Tencent Holdings Ltd., and existing investor SoftBank. The company was also in advanced talks to raise an additional $1 billion as a part of the same financing round.  Both the spokespersons for Ola and Temasek said they “do not comment on market speculation.” Interestingly, Temasek, along with SoftBank have invested in Southeast Asia based cab hailing startup Grab.

At present, India’s ride hailing market is currently pegged to be valued at $ 10 billion. Founded in 2011, Ola currently has a presence in 110 cities in India and recently launched its services in Australia as well.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Funding

Imarticus Learning Acquires MyCaptain for INR 50 Crore to Boost Non-Tech Upskilling

Published

on

My Captain

Imarticus Learning, an IPO-bound professional education firm, has acquired Bengaluru-based edtech platform MyCaptain for INR 50 crore in a cash-and-stock deal. This marks Imarticus’s fourth acquisition in four years and is aimed at expanding its presence in non-tech career training, especially across India’s Tier-II and Tier-III cities. MyCaptain, which has over 500,000 learners and a revenue of ₹27 crore for FY25, specializes in creative and entrepreneurial fields, with 60% of its users from smaller cities.

 

With this acquisition, Imarticus will bring MyCaptain’s employability bootcamps in digital marketing, design, and content to its 20+ classroom centers in 16 cities, blending online and offline learning. MyCaptain will operate as a fully-owned subsidiary, and all 250 of its employees will join Imarticus, expanding the combined workforce to over 850. The move supports Imarticus’s goal to reach five million learners by FY28 and deepen its offerings in non-tech domains.

Continue Reading

News

Kingdom of Innovation: Saudi Arabia Tops Global Startup Growth Rankings for 2025

Published

on

StartupStories

Saudi Arabia has been named the fastest-growing startup ecosystem in the world in the 2025 StartupBlink Global Startup Ecosystem Index, with a growth rate exceeding 200%—the only country in the global top 100 to achieve this milestone. This surge has earned the Kingdom the “Country of the Year” title, highlighting its transformation into a global innovation leader.

The report ranks 110 countries and 1,400 cities, with three Saudi cities—led by Riyadh—making the global top 1,000. Riyadh entered the world’s top 100 startup cities, posting a 134% growth rate, and solidifying its role as a regional tech hub.

Saudi Arabia now leads globally in HealthTech, nanotechnology, and transport tech, and ranks among the top in sectors like fintech, e-commerce, logistics, and gaming. The Kingdom’s rapid progress is fueled by Vision 2030, robust government support, and record venture capital investment, making it the most funded VC market in MENA.

Startups such as Tabby, Tamara, and Jahez exemplify this momentum, as Saudi Arabia emerges as a top destination for innovation and entrepreneurship.

 

Continue Reading

News

SC Grants Relief to Paytm’s First Games, Stays Massive GST Notice

Published

on

StartupStories

The Supreme Court of India has granted interim relief to Paytm’s gaming arm, First Games, by staying proceedings on a ₹5,712 crore GST notice issued by the Directorate General of GST Intelligence (DGGI). The notice, sent in April 2025, demanded GST for the period January 2018 to March 2023, based on the department’s view that 28% GST should be levied on the total entry amount, rather than the 18% GST currently paid on platform fees.

First Games challenged the notice in the Supreme Court, which on May 23, 2025, ordered a stay on all further proceedings until a final decision is reached. The dispute is part of a broader industry-wide debate over the correct GST treatment for real money gaming platforms, with similar cases pending before the court. Following the stay, Paytm shares rose nearly 2% in early trading, reflecting investor optimism.

The Supreme Court’s order provides temporary relief to First Games and signals ongoing judicial scrutiny of GST demands across India’s online gaming sector.

Continue Reading
Advertisement

Recent Posts

Advertisement