China’s Didi Kuaidi Invests In Ola

The Uber war is ON and China’s Didi Kuaidi has confirmed an investment in Ola.

Ola which is currently raising $500mn at $5Bn valuation has raised $30mn from Didi (unconfirmed). Didi recently invested $100mn in Uber’s US rival, Lyft and participated in SE Asia’s GrabTaxi’s $350mn funding round.

“Didi Kuaidi believes both India and China are rapidly developing countries with enormous market potentials.

“Didi Kuaidi looks to engage local industry champions like Ola to share technology and best practices in product development and operational expertise – all honed from deep market data-driven operations.”

Didi Kuaidi recently raised $2Bn at $15Bn valuation.

Ola, by the way claims 80% market share and recently opened up its API to third party developers and is soon launching shuttle services too.

Next Read : How Softbank Is Raising An Army To Take On Uber.

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