Ola, which is also planning to go public later this year or early next year was last valued at $7.3 billion when it raised $139 million in its Series J round, led by Edelweiss PE, IIFL, and Sunil Munjal-led Hero Enterprises.
Having doses of imagination, an ability to take risks and multiple problems to solve may be good enough to kindle an entrepreneurial spirit. Considering India is home to about 1.39 billion people, the problems are diverse. It would be great if the entrepreneurial drive spreads across tier cities.
The week was a busy one for the country's start-up ecosystem, and was dominated by some top-tier companies drawing in VC funding, like Ola, Shiprocket, and many more.
The funding round also saw participation from existing investors Aavishkaar Capital, Accel, Bertelsmann, Chiratae Ventures, and Rabo Frontier Ventures.