The Briefing: Ola Picks Up $500M, Netskope's $7.5B Valuation, And More
Summary
India-based ride-hailing platform Ola raised $500 million in a fresh funding round led by Temasek and an affiliate of Warburg Pincus. Ola did not provide updates about a potential public offering alongside the funding, but the company is believed to be making plans for an IPO. Ola was hit hard during the pandemic, however, as lockdowns left people at home, and the company carried out sharp cuts to its workforce. Santa Clara, California-based cybersecurity company Netskope closed a $300 million investment round led by existing investor ICONIQ Growth — lifting its valuation to $7.5 billion. That market — which includes large firms like Zscaler and Palo Alto Network — has been pegged by experts as one likely to see a lot of interest from investors and strategics as more companies move to the cloud and undergo their digital transformation.
