Yuri Milner is the founder of internet investment firm DST Global, and made a fortune by betting on Chinese tech companies like e-commerce platforms Alibaba and JD.com.
Russian billionaire Yuri Milner on Sunday handed out seven Breakthrough Prizes, the award for scientific accomplishment he created three years ago alongside technology giants including Facebook founder Mark Zuckerberg, 23andme founder Anne Wojcicki and Google co-founder Sergey Brin.
An industry source said the funding was part of an overall USD 500 million the company is planning to raise, which will value Ola at around USD 5 billion.
The Series C round also saw participation from Sofina, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner.
The company had reported USD 314 million of this investing round in a filing to the Registrar of Companies earlier in the month.
Ola, backed by Japan's Softbank Corp , also received investments from private equity investors Accel Partners, Tiger Global and Steadview Capital in the latest round of funding. Ola competes with United States-based Uber in India.