Two funds managed or advised by Motilal Oswal Private Equity have committed to invest ₹100 crore in Chennai-based Updater Services Pvt Ltd, which provides integrated facilities management services across the country. This is the third round of private equity investment in the company; New Vernon Private Equity and ICICI Ventures had invested in 2004 and 2008.

Belong receives ₹68 crore

Belong, a predictive outbound hiring platform, has raised ₹68 crore ($10 million) in a Series B round led by Sequoia Capital India, with participation from existing investor Matrix Partners India. It will use the funds to accelerate product development, expand sales and support operations, and hire staff across engineering, data science and enterprise sales.

StayAbode gets angel funding

StayAbode, which builds co-living spaces, has raised an undisclosed amount in angel funding from a consortium of investors led by Ishan Manaktala and Angie Mahtaney. Gaurav Bhalotia, former Vice-President – Engineer, Flipkart; Vishal Lulla, CEO, Vishal Exports; and a group of investors from Lets Venture participated in this round. StayAbode offers over 180 beds in four properties in Bengaluru and plans to expand to other cities.

$350-million funding for Ola

Cab aggregator Ola has raised $350 million from new and existing investors. The last time it raised funds was in December 2015 when it got $57 million from Vanguard Mutual Funds. Before the latest round of fund raise, Ola had raised $1.23 billion and its investors include Tiger Global, Softbank and Sequoia.

Lone Star, IL&FS in tie-up

Global PE firm Lone Star has tied up with IL&FS to invest in stressed infrastructure projects in India, with a capital pool of $550 million. The investments could result in asset purchases of up to $2.5 billion. The collaboration will provide assistance to banks, sponsors and asset reconstruction companies to recycle capital, allowing re-investment in fresh projects.

IFMR Investment’s 2 debt funds

IFMR Investment Managers Pvt Ltd, a subsidiary of IFMR Capital and an alternative investment funds manager, has launched two debt funds catering to investors interested in the financial inclusion sector. The funds are expected to attract investments from life and general insurance companies, banks, NBFCs and private wealth investors. It targets to raise ₹850 crore through these two funds.

KredX acquires Hummingbill

Bengaluru-headquartered KredX, an invoice discounting platform, has bought New York-based accounts receivables manage-ment software start-up Hummingbill for an undisclosed sum. – Our Bureau

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