Yuri Milner's DST Global leads $314m funding round for India's Ola

Russian billionaire Yuri Milner's DST Global has led a near $314m (£212m, €292m) funding round for India's biggest online cab-hailing service Ola.

Private equity investors including Accel Partners, Tiger Global and Steadview Capital also invested in Ola owner ANI Technologies, an April filing with India's Registrar of Companies showed.

Existing investors, Japanese telecom and media giant Softbank and Matrix Partners did not participate in the latest funding round.

Apart from letting customers hail taxis and autorickshaws, the cheaper three-wheeled taxis that ply on India's roads, Ola's mobile app also allows customers to order food in some Indian cities. That service is called Ola Café.

In March, Ola acquired rival TaxiForSure for $200m, in one of India's biggest e-commerce deals, to ward off fast-growing US-based rival Uber.

Milner already has a personal investment in Ola, The Times of India reported earlier.

In October 2014, Ola raised $210m from SoftBank.

Earlier in 2014, Milner's DST Global paid $210m to acquire a significant stake in Indian e-commerce giant Flipkart.

DST has already made investments in China's largest cab-hailing app company KuaiDi Dache, which is backed by Softbank and Chinese e-commerce giant Alibaba Group Holding.

Olacabs was founded in 2011 by Bhavish Aggarwal and Ankit Bhati.