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Uber's India rival raises $50 million at $4.3 billion valuation

An Ola customer getting into a car. Photo: Ola

Ola, Uber's biggest rival in India, has raised $50 million in new funding from China's Sailing Capital and the China-Eurasian Economic Cooperation Fund at a $4.3 billion valuation, according to documents obtained by Indian media outlets.

Big picture: This comes just as Ola announced it's expanding to New Zealand, its third country outside India, and continues to grow its food delivery business.

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