The Ola and Uber cabs are much in vogue these days, saving the passengers a lot of hassles and inconveniences.  In fact it is a far better bet than taking regular cabs and hassle about the fares. There is some astounding news regarding the Ola cabs of which the details are given below.

Astounding updates

There is some astounding revelation that Ola cab raises 36 million dollars from Tekne Capital Management.  Apparently there has been a pretty penny gathered by cab aggregator Ola (ANI Technologies) from the Tekne Capital Management of New York. This fact has been proved by the documents which have been submitted with the ROC or Registrar of Companies. Although it has been reported by VCcircle, confirmations are not exactly clear by the Ola representatives. It is because the Ola authorities have refused to comment on this issue.

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image: medianama.com

Interestingly enough, Ola has raised fifty million dollars from Tekne Management itself. Many stockholders were finalizing deals with Ola to raise more funds and one of them was Coatue Management LLC.

Conclusive summary

These are some of the amazing facts about the recent news headlines made by the Ola cabs. However, this astounding revelation has certainly created some controversies which the air needs to be cleared. Ever since its introduction, Ola and Uber have been competitors when it comes to the transport market. However it stands to be seen as to which of these two cab associations can pull up bigger sums in the profit margin and how.