Online cab booking service Olacabs has raised Rs 250 crore in an investment round led by Steadview Capital and Sequoia Capital with participation from existing investors Tiger Global and Matrix Partners, reports The Times of India. Olacabs co-founder and CEO Bhavish Aggarwal told the publication that they intend to use the investment raised to expand to new cities and categories and strengthen its driver ecosystem in the country. Update: Aggarwal has informed that they hope to be present in atleast 20 cities by the end of this year. They are also earmarking Rs 100 crores towards nurturing their driver ecosystem over the next one year. The report suggests that Olacabs has raised a total investment of $65 million across three different rounds. It had raised Series B investment from Tiger Global and Matrix Partners in November last year and had secured its Series A funding from Tiger Global Management in…
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