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Ola raises $225 million in fresh round of funding

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Ola raises $225 million in fresh round of funding

Mumbai-based cab service provider Ola Cabs has recently raised $225 million in a fresh round of funding. The new funding is led by existing investor Falcon Edge Capital with participation from New York-based hedge fund and its existing investors Tiger Global Management LLC and Softbank Corp. and six other investors, as per documents filed by the company with the Registrar of Companies (RoC), market reports state. The firm has raised a total funding of more than $900 million till now.

According to the RoC filling, Falcon Edge has invested around $78 million, and Tiger Global and Soft Bank have pumped in $60 million and $58 million, respectively. Other existing investors, Steadview Capital, the Hong Kong-based hedge fund, Pittsburgh based technology firm ABG Capital and Mauritius-registered FII LTR Focus Fund have contributed $3.1 million, $2.7 million and $1.8 million respectively. New investors in the round include JS Capital (M) Ltd and Parkwood Bespin, both Mauritius-registered entities, and Singapore-based high net-worth individual Daniel E. Neary, and the three together contributed $20 million.

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