Bhavish Aggarwal, Co-founder & CEO, Ola said, “We are thrilled with the pace at which we are growing. Ola is at the forefront of the mobile internet revolution in India and Softbank as an investor and a strategic partner with its global network, brings in a lot of relevant experience and knowledge of this domain. We will continue to build towards our vision of transportation as a seamless and ubiquitous service in every corner of the country and focus on the driver ecosystem to enable micro entrepreneurship and skill development at scale.”

NikeshArora, Vice Chairman of SoftBank and CEO of SIMIadded, “India has the third largest Internet user base in the world, but a relatively small online market currently. This situation means India has, with better, faster and cheaper Internet access, a big growth potential. With today’s announcement SoftBank is contributing to the development of the infrastructure for the digital future of India. We want to support the leaders and entrepreneurs of the digital future; Bhavish is such a great leader.”

Ola has raised earlier rounds of funding from Tiger Global, Matrix Partners India, Steadview Capitaland Sequoia Capital. The Series D round of $210mn led by SoftBank qualifies as one of the largest fund-raises in the Indian e-commerce and mobile space.