On Monday, Ola Electric, raised over USD 200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others, at a valuation of USD 5 billion. Last year in September, Ola Electric had raised a similar amount of funding from Falcon Edge, Softbank and others that had valued the company at USD 3 billion. Ola Electric is creating India’s EV revolution.
“ With Ola S1, the best scooter ever made, we have 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,” said Ola co founder and CEO Bhavish Aggarwal in a statement.