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Ola raises $225M in funding from existing & new investors

Online cab aggregator Ola has raised $225 million in a round of funding from existing investors Falcon Edge Capital, SoftBank, Tiger Global Management, Steadview Capital, ABG Capital, FII LTR Focus Fund and new investors JS Capital, Parkwood Bespin and Daniel E Neary, reports the Mint. The report, which cites documents filed by Ola with the Registrar of Companies, mentions that Tiger Global invested Rs 296.9 crore, Softbank invested Rs 384 crore, Falcon Edge invested Rs 514.7 crore, with the others contributing less than Rs 25 crore each. In April, Ola had raised $400 million in a series E round of funding led by DST Global, with participation from GIC, Falcon Edge Capital and existing investors SoftBank Group, Tiger Global, Steadview Capital and Accel Partners US. It's not clear if the current funding is a part of this round or is fresh funding. Considering the current round, Ola has raised over $925 million over the last few years. This includes the $210 million it raised from the Softbank Group in October last year, the $42 million raised from Steadview Capital, Sequoia Capital and existing investors in July last year, undisclosed Series B investment from Tiger Global and Matrix Partners in November 2013 and undisclosed Series A funding from Tiger Global Management in April 2012. Note that competitor Uber recently raised around $1 billion in funding from Microsoft and The Times Group’s parent company Bennett, Coleman and Company Limited (BCCL). Uber had said then that it would use the funding to expand in…

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