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Kakao Mobility picks up additional $55M funding at over $4.2B valuation 


Kakao Mobility, the South Korea-based mobility as a service (MaaS) startup behind Kakao T, a ride-hailing app, said it has raised an additional $55 million (65 billion won) from strategic investor GS Retail. This brings its total raised to about $941.4 million (1.11 trillion won) and values it at more than $4.2 billion, a spokesperson at Kakao Mobility confirmed. 
On Monday, South Korea’s GS Retail announced that spent $55 million for its 1.3% stake in Kakao Mobility. 
The latest financing event comes on the heels of a series of funding rounds that include $200 million from the Carlyle Group in February, $478 million from Google in March and $111 million led by TPG in June. Previous backers also include South Korea’s GS Caltex, GS Energy and LG Corp, the company said.  
Kakao Mobility was valued at $3.4 billion (4.09 trillion won) as recently as its $84.9 million funding (100 billion won) from LG Corp in July, according to the spokesperson. The spokesperson said that the company will possi …

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