As Uber reels under crises, Ola in talks with Tencent to raise $400 mn

India’s largest taxi aggregator Ola is in talks to raise $400 million in fresh funding from Chinese Internet behemoth Tencent as it looks to quickly expand its service in the country at a time when its global rival Uber is reeling under multiple crises.

Ola is shoring up on investments as it dabbles with the idea of using electric cars as cabs and is increasingly relying on its in-house leasing unit to grow the base of partners on its platform. The company has raised close to $400 million in funding since November when Softbank led a $230 million investment in the