1 minute reading time (187 words)

Ola Electric raises $200 million in the latest round at a valuation of $5 billion

Bhavish Aggarwal, Founder & CEO, Ola with S1 e-scooter (Source: Ola Electric)

Ola Electric has announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others. The latest round values the company at $5 billion.

Over the last 12 months, Ola Electric has built the Futurefactory, the world's largest 2W manufacturing facility, Ola S1 - the best scooter ever made and an entirely new and disruptive direct-to-consumer model with fully digital purchase coupled with home test rides and doorstep delivery, and after-sales service.

Speaking on the development, Bhavish Aggarwal, Founder & CEO, Ola stated "Ola Electric is creating India's EV revolution and is driving cutting edge manufacturing from India for the entire world. With Ola S1, the best scooter ever made, we've changed the entire scooter industry and are now looking forward to bringing our innovative products to more two-wheeler categories including bikes as well as cars. I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world." 

Author : Debi Dash
arrow_back Epsilon, Minviro partners for LCA for graphite-bas...
arrow_forward Ruchira Green Earth expands portfolio of its Akira...