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Temasek, Warburg Pincus rev up Ola with USD 500 million backing: Electric scooter launch soon

Temasek, Warburg Pincus rev up Ola with USD 500 million backing: Electric scooter launch soon FE Bureau © Provided by The Financial Express Ahead of its planned initial public offering (IPO), mobility start-up Ola has raised a fresh $500 million from Singapore government’s investment fund Temasek and Plum Wood Investment, an affiliate of Warburg Pincus. The start-up s co-founder and group CEO, Bhavish Aggarwal, also participated in the financial round, the company said in a statement on Friday. It, however, did not disclose the specifics of the deal and the timeline of its IPO. The transaction is understood to be largely secondary. Ola s early backers Tiger Global and Matrix Partners India have sold shares in the round.

Will Section 66A finally be laid to rest?

Will Section 66A finally be laid to rest? Want this newsletter delievered to your inbox? SUBSCRIBE Thank you for subscribing to Unwrapped We ll soon meet in your inbox. / Unwrapped Last Monday, the Supreme Court of India said it was “shocked” that police across the country continue to charge people under Section 66A of the Information Technology Act, a law it struck down as unconstitutional in March 2015. “You file a counter as it is a shocking state of affairs,” Justice Rohinton Fali Nariman told Attorney General KK Venogopal, who sought two weeks to reply. Will 2021 be the year that Indians are finally freed from the clutches of this atrocious “zombie law”?

Ola secures $500 million in pre-IPO funding from Temasek, Warburg Pincus

Ola secures $500 million in pre-IPO funding from Temasek, Warburg Pincus
techstory.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techstory.in Daily Mail and Mail on Sunday newspapers.

Indian social ecommerce platform DealShare raises $144 million

INDIA New England News The company said it will utilise new funds in improving and scaling up its operations rapidly. The latest round marks the third funding for the company in a span of seven months, with the valuation increasing nine-fold on the back of high-growth momentum. With the current round, the total funding raised by DealShare stands at $183 million. “We would utilise the funds primarily to invest in AI-driven innovations in our user experience leading to a highly personalised, fun-filled and gamified experience,” said Vineet Rao, CEO and Founder, DealShare. “Our monthly active users already use our app over 40 times a month making it the most engaging ecommerce app and we will continue to add more innovative capabilities and services to serve a wider range of user needs,” he added.

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