Ola Electric valuation crosses 5 billion dollar raised 200 dollar million from investors | Ola Electric’s valuation crosses $5 billion, raised $200 million from investors

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Ola Electric’s valuation crosses $5 billion, raised $200 million from investors

New Delhi. Ola Electric on Monday said it has raised $200 million (about Rs 1,490.5 crore) from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and other investors. The electric vehicle maker was valued at US$5 billion in this round of funding, the company said. In September last year, Ola Electric had raised a similar amount from Falcon Edge, SoftBank and other investors at a valuation of $3 billion (about Rs 22,272 crore).

Bhavish Aggarwal, Co-Founder and CEO, Ola, said in a statement, “Ola Electric is creating the EV revolution in India and cutting-edge manufacturing for the entire world. With the best scooter ever like the Ola S1 we have transformed the entire scooter industry and are now gearing up to bring our innovative products across the bikes as well as cars category.”

“I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world,” he said. Ola Electric commissioned its manufacturing plant ‘FutureFactory’ last year. Kia and claims that it is the largest two wheeler manufacturing plant in the world. Along with this, the company introduced its electric scooter Ola S1.

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