IndusLaw helps Olacabs raise $210 million from SoftBank; advised by AZB and Morrison Foerster
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IndusLaw helps Olacabs raise $210 million from SoftBank; advised by AZB and Morrison Foerster

Pallavi Saluja

India’s online cab service, Olacabs has raised $210 million (Rs. 1281 crore) from SoftBank Internet and Media Inc. (SIMI) and its existing investors including Tiger Global, Matrix Partners India and Steadview Capital.

Induslaw acted for Olacabs with a team led by Partner Gaurav Dani and Senior Associate Divya Varghese.

AZB & Partners and Morrison Foester acted for Softbank. The AZB team was led by Bangalore-based Partner Srinath Dasari, while the Morrison team was led by Gregory M. Giammittorio.

The existing investors were advised by in-house teams.

The current Series D round of $210 million led by SoftBank is one of the largest fund-raises in the Indian consumer technology and mobile space. In July 2014 the firm had raised Rs 250 crore, reports Forbes India.

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