The startup plans to use the funds to invest in scaling product and engineering, sales, and marketing in both regions.
Rainforest Venture Network, existing investor growX Ventures and some angel investors also participated in the round.
The bike taxi startup is likely to be valued at $200 million after the funding round.
India Quotient will use the add-on fund to invest in companies such as ShareChat, Lendingkart, LoanTap and Sugar Cosmetics, among others.
The deal marks Blackrock's first private market transaction in India, as well as its first bet on an Indian startup.
Bansal's debt investment is convertible to equity in case of repayment issues.
However, funding in India continues to remain strong.
The deal marks Ebix’s biggest acquisition to date in India.
The fundraise will help Procol scale its procurement platform.
Bansal invested $100 million in ride-hailing giant Ola in February this year.
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