Indian online transportation network company Ola Cabs has secured another $74 million in funding.

Ola secured the funds from its existing backer Steadview Capital.

In October last year, Ola revealed that it raised $1.1 billion from Tencent Holdings and existing backers SoftBank and said it was holding discussions to fetch another $1 billion.

Following the financing, Ola is anticipated to be valued at $5.5 to $6 billion.