In the last 12 months, Ola Electric has built its ‘FutureFactory’, which it claims is the world’s largest two-wheeler manufacturing facility, and launched its electric scooter Ola S1.
Ola Electric on Monday said it has raised over $200 million (approximately ₹1,490.5 crore) from Tekken Private Ventures, Alpine Opportunity Fund, Edelweiss and others, valuing the electric vehicle maker at $5 billion.
In September last year, Ola Electric had announced raising a similar amount in funding from Falcon Edge, SoftBank and others, valuing the company at $3 billion (about ₹22,272 crore).
“Ola Electric is creating India’s EV revolution and manufacturing state-of-the-art from India for the entire world. With Ola S1, the best scooter ever, we have transformed the entire scooter industry and are now looking forward to bring 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,” Ola co-founder and CEO Bhavish Agarwal said in a statement.
In the last 12 months, Ola Electric has built its ‘FutureFactory’, which it claims is the world’s largest two-wheeler manufacturing facility, and launched its electric scooter Ola S1. Ola’s facility will employ over 10,000 women at full capacity and will be the largest women-only factory globally.
In the past, Ola Electric has raised funds from various investors including Tiger Global and Matrix India. In July last year, Ola Electric had announced the signing of a $100 million (approximately ₹744.5 crore) 10-year debt financing agreement with Bank of Baroda.
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