Olacabs raises Series B funding to expand its presence in India
Olacabs, an India-based car rental aggregator has secured Series B funding from Matrix Partners India as well as existing investor, Tiger Global Management.
While the exact funding amount is not disclosed, one media source reports the deal to be in the region of $20 million.
Olacabs will use these funds to expand its operations to newer markets and to deepen its technology and analytics expertise.
The company had earlier raised Series A funding from Tiger Global Management in April 2012.