ANI Technologies (Ola)
- 🦄Became a unicorn2015
- 📈Peak valuation$7.3 Billion ’21
- 💔Became a Unitard2026
- 💸Last valuation~$73M
The rise & fall
6 moments · 2010–2026The key moments.
How it happened
ANI Technologies is the Bengaluru company behind Ola, the ride-hailing app Bhavish Aggarwal and Ankit Bhati founded in 2010 and built into SoftBank's main Indian mobility bet. A pre-IPO round led by Edelweiss in December 2021 valued it at $7.3B, months after a $500M round from Temasek and a Warburg Pincus affiliate.
Growth then reversed: operating revenue fell 42% in the year to March 2025 as Uber and Rapido took share and the group spun off and reshuffled businesses, and Moody's cut its rating.
Vanguard, which discloses quarterly marks on its holding, wrote the stake down about 99% in SEC filings, implying a value near $70M, less than ANI's own roughly 3.6% stake in its separately listed scooter affiliate, Ola Electric.
Across more than 2,000 Glassdoor reviews, employees most often cited poor work-life balance, long hours, high attrition and a difficult management culture, and average ratings drifted down after 2021.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Mutual-fund markdowns
1 fund · SEC NPORT-PHow U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.
Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Oct 2026.
Source: TechCrunch (Dec 8, 2021): a ~$139M pre-IPO round led by Edelweiss Crossover Opportunity Fund at a $7.3B valuation; (Jul 8, 2021): $500M from Temasek and Plum Wood, a Warburg Pincus affiliate. SEC Form N-PORT: Vanguard International Growth Fund and an affiliated portfolio mark 'ANI Technologies Pvt Ltd' at ~$4.19/share in 2026; IANS, Kotak, TradeBrains and Inc42 (Jun 2026) report Vanguard cut the holding ~99% to imply ~$70.3M, along a path of ~$1.88B (2023) to ~$1.25B (mid-2025) to ~$70M (2026). FY25 operating revenue fell 42% (filings; Moody's downgrade). The entity is ANI Technologies / Ola Consumer, not the listed Ola Electric. Founded 2010 by Bhavish Aggarwal and Ankit Bhati.
Founders
Current roles as self-reported on LinkedIn, retrieved 2026-10-13. See our methodology.
Disclosed investors (34)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard
