Sequoia Capital and Steadview Capital Lead an INR2.5 Billion Financing Round for Olacabs (Asia)

Source: Matrix Partners India

Venture capital firm Sequoia Capital and hedge fund Steadview Capital have led an INR2.5 billion (approximately US$41.8 million) Series C financing round for India-based taxi network Olacabs. Existing investors venture capital firm Matrix Partners India and hedge fund Tiger Global Management also participated. Olacabs will use the funds to expand its operations in new markets.