Ola Electric raises $200 mn in funding at a valuation of $5 billion


Ola Electric on Monday reported it has raised in excess of USD 200 million (about Rs 1,490.5 crore) from Tekne Private Ventures, Alpine Option Fund, Edelweiss and others, valuing the electrical vehicle maker at USD 5 billion.


In September very last calendar year, Ola Electric had announced raising a very similar sum in funding from Falcon Edge, Softbank and many others that had valued the enterprise at USD 3 billion (about Rs 22,272 crore).







Ola Electric is creating India’s EV revolution and is driving cutting edge manufacturing from India for the entire earth. With Ola S1, the finest scooter ever manufactured, we have adjusted the total scooter marketplace and are now hunting forward to bringing our innovative items to far more two-wheeler groups, which include bikes as properly as cars and trucks.


I thank the buyers for their guidance and appear ahead to partnering with them to acquire the EV revolution from India to the earth, Ola co-founder and CEO Bhavish Aggarwal reported in a assertion.


More than the final 12 months, Ola Electric has developed its ‘Futurefactory’, which it promises is the world’s largest two-wheeler producing facility, and launched its electric powered scooter Ola S1. Ola’s facility will use over 10,000 girls at comprehensive capability and will be the greatest girls-only manufacturing facility globally.


In the previous, Ola Electric powered has elevated funding from numerous buyers, such as Tiger World wide and Matrix India. In July very last yr, Ola Electric had introduced signing a USD 100 million (about Rs 744.5 crore) 10 calendar year-phrase personal debt financing settlement with the Financial institution of Baroda.
(Only the headline and picture of this report may perhaps have been reworked by the Enterprise Typical employees the relaxation of the content material is car-created from a syndicated feed.)

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