Ola raises $50 Million, Sachin Bansal may acquire stake

Ola has raised $50 million from Sailing Capital (SC) and the China-Eurasian Economic Cooperation Fund (CEECF).

The Bangalore-based startup company latest investment has inched up its valuation to $4.3 billion, from $3.5-4 billion in last October.

The deal was in negotiation stage for past two months.

The new investment will give SC and CEECF a stake of approximately 1.17% in ANI.

Ola aggressive growth and business model has also been attracting new investors. Sachin Bansal, former CEO and co-founder of Flipkart, is reportedly exploring a way to buy secondary stakes in Ola.

Bansal had previously praised Ola’s co-founder and his platform for developing and making it large company. Bansal, after his go out from Flipkart, is making plans to elevate $1 billion startup-focused funds. until date, he has invested in seven ventures with a complete investment of $26 million.

except, current investors Steadview Capital is also trying to improve its stake. Softbank, Tencent, Tiger global and Matrix partners collectively keep extra than 60 Percentage of Ola’s shares.

aside from raising cash, Ola is breaking into new markets beyond India. After Australia and united kingdom launches, it now plans to go into the new Zealand marketplace.

It plans to start with cities like Auckland, Christchurch, and Wellington. In offshore markets, Ola has been giving out a low fee fee of 9 Percentage cent to lure extra drivers on its platform. it"s going to compete with Uber and Zoomy in New Zealand.

At present, the ride-hailing company has been doing approximately 2 million rides each day. It plans to obtain profitability by the quit of 2019.

decreasing fee and incentives for drivers in addition to lowering discounts for riders are elements driving Ola closer in the direction of the road of profitability.

The take-home pay for drivers dropped 33 Percentage inside the final 12 months, in accordance to research consultancy Redseer’s file.

Ola’s running loss has multiplied 32 Percentage cent to Rs 3,731 crore in FY17 even as working revenue extra than doubled to Rs 1,178 crore. besides, its other costs (now not defined) also rose as much as Rs 4,052 crore from Rs 2,422 crore. #Bangalore, #BangaloreStartups, #Flipkart, #Funding, #IndianStartup, #IndianStartups, #MatrixPartners, #NewZealand, #OLA, #SachinBansal, #SoftBank, #StartupInIndia, #StartupsInBangalore, #SteadviewCapital, #TechStartup, #Tencent, #TigerGlobal

Policybazaar invests $50 Million (about 362 crores) into healthtech venture DocPrime

After receiving $236 million series F round led through SoftBank, Policybazaar were given the coveted popularity of Unicorn and announced to foray into healthtech undertaking with the launch of cell app DocPrime, a marketplace for medical doctors connecting with patients.

Now the internet coverage aggregator enterprise has infused $50 million into the healthcare challenge. The preliminary capital may be utilized by DocPrime to enhance UI/UX of the app with the deployment of the modern-day day generation like AI, records technological know-how and deep analytics.

In an earlier interaction with media, Yashish Dahiya, co-founder and chief govt at Policybazaar had discovered that the organization would invest $100 million within the new undertaking over the following years.

DocPrime, which currently connects patients with docs in real time, had appointed earlier CTO of Policybazaar Ashish Gupta as the chief executive Officer(CEO) and roped in Richit Ummat because the chief working Officer (COO) of the brand new challenge.

The platform has tied up with 14,000 docs and 50,000 diagnostic labs. It further objectives to increase its network to 100 and 50,000 medical doctors and 20,000 labs during over 100 towns.

except presenting loose consultation on chat and get in touch with, it additionally enables the reserving of health practitioner appointments and lab exams.

As a ways as monetising the platform, DocPrime plans to offer paid offerings in the form of OPD subscription applications that lets in you to supply sufferers endless consultations and tests.

looking forward to a decent growth in future, DocPrime is focused on 1 million free medical consultations via March 2019 and as a whole lot as five million with the resource of March 2020.

DocPrime want to be eyeing the success of each other Softbank-funded enterprise enterprise Ping An good doctor, an online-to-offline (O2O) healthcare servicing platform primarily based out of Shenzhen, China. Like Ping An, PolicyBazaar targets for a bigger opportunity within the fitness-insuring segment.

In India, DocPrime will compete with Practo, Netmeds, 1mg, and others.

The improvement changed through TOI. #DocPrime, #Funding, #Gurgaon, #GurgaonStartup, #HealthStartup, #HealthcareStartup, #Healthtech, #IndianStartup, #IndianStartups, #Policybazaar, #SeriesFRound, #SoftBank, #StartupIndia, #StartupsInIndia