SoftBank-backed India EV startup raises $200m for foray into cars

Ola Electric says at full capacity its female-only plant will employ 10,000

20220125 Ola

Ola Electric's latest fundraising round has given the company a $5 billion valuation, the scooter maker says. © Reuters

PRAMUGDHA MAMGAIN, DealStreetAsia

NEW DELHI -- Two-wheel vehicle maker Ola Electric of India has announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and other parties at a valuation of $5 billion.

The latest financing comes not even two months after the Bengaluru-based startup secured about $53 million in a round led by Singapore's state investment firm Temasek, with participation from Edelweiss, IIFL and Vijay Shekhar Sharma's VSS Investco, according to Ola Electric's filings.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.