Ola Electric vs Ather Energy: revenue, valuation and funding compared
The short answer
Ather Energy reported the highest revenue, ₹3,671.76 crore in FY26, against Ola Electric ₹2,253 crore in FY26. Ola Electric and Ather Energy reported a loss.
Ola Electric and Ather Energy are both makers of electric scooters that now trade on Indian stock exchanges. Ola Electric is based in Bengaluru and was founded by Bhavish Aggarwal. They are compared because they sell the same kind of product to the same buyers, and because the two companies have gone in opposite directions on sales in the past year.
Both companies' latest numbers belong to FY26, the year to March 2026. Ola Electric's figures are consolidated annual results. For Ather the profile notes that the results coverage does not say whether its figures are consolidated or standalone, and its FY25 revenue is not in the profile. Every number on this page comes from the two StopDown profiles.
Side by side
| Ola Electric | Ather Energy | |
|---|---|---|
| Founded | — | — |
| Based in | Bengaluru | — |
| What it sells | Maker of electric scooters, listed on Indian exchanges | Maker of electric scooters, listed on Indian exchanges |
| Status | Listed | Listed |
| Revenue, latest year | ₹2,253 crore FY26 | ₹3,671.76 crore FY26 Bigger |
| Revenue, year before | ₹4,514 crore FY25 | — |
| Growth | -50% (FY25 to FY26) | — |
| Net profit (loss), latest year | ₹1,833 crore loss FY26 | ₹517.17 crore loss FY26 |
| Last disclosed valuation | — | — |
| Total raised | $200M (disclosed rounds) Bigger | $128M (disclosed rounds) |
| Last round | Funding, ₹398 crore, Dec 2021 | Debt and equity, ₹286 crore, May 2024 |
| Profile | Ola Electric on StopDown | Ather Energy on StopDown |
Scale
On revenue, Ather is now ahead. It reported revenue from operations of ₹3,671.76 crore in FY26, up 62.8%, and sold 262,942 vehicles, up 69% from 155,394 in FY25. Ola Electric's revenue went the other way: ₹2,253 crore in FY26, down from ₹4,514 crore in FY25 and ₹5,010 crore in FY24.
Ather's FY25 revenue is not in its profile, so the percentage rise above is the figure reported in its results coverage. The profile for Ola Electric carries no vehicle count, so the comparison of units sold is not possible from these facts.
Money
Both companies lose money, but by very different amounts. Ola Electric reported a consolidated net loss of ₹1,833 crore in FY26, after ₹2,276 crore in FY25 and ₹1,584 crore in FY24. Ather's net loss was ₹517.17 crore in FY26, narrowed from ₹812.28 crore in FY25.
Ola Electric went public in August 2024 in an IPO of about $734 million, which listed flat at ₹76 and was the biggest Indian IPO of 2024 at that point. Before that it raised over $200 million in September 2021 at a $3 billion valuation, led by Falcon Edge and SoftBank, and ₹398 crore from Temasek in December 2021. Ather's profile lists a $128 million round in May 2022 led by NIIF and Hero MotoCorp, and ₹286 crore of debt and equity in May 2024 from Stride Ventures and its co-founders. No valuation for Ather is in its profile, and this page does not comment on share prices.
Where they are heading
Ola Electric's board has approved a plan to raise up to ₹1,500 crore through shares or other permitted securities, and in March 2026 the company said it would move ₹475 crore of IPO proceeds from research and development to debt repayment. The Ather profile lists no announced plans or acquisitions beyond its FY26 results.
The numbers behind the table
Ola Electric: revenue and profit by year
| Year | Revenue | Profit or loss | Note |
|---|---|---|---|
| FY26 | ₹2,253 crore | ₹1,833 crore loss | consolidated; expenses exclude depreciation |
| FY25 | ₹4,514 crore | ₹2,276 crore loss | consolidated; expenses exclude depreciation |
| FY24 | ₹5,010 crore | ₹1,584 crore loss | consolidated; expenses exclude depreciation |
Ather Energy: revenue and profit by year
| Year | Revenue | Profit or loss | Note |
|---|---|---|---|
| FY26 | ₹3,671.76 crore | ₹517.17 crore loss | as reported in results coverage; revenue from operations; consolidated or standalone not stated |
| FY25 | — | ₹812.28 crore loss | loss as reported in FY26 comparison; same basis as above |
Ola Electric: funding rounds
| Date | Round | Amount | Investors |
|---|---|---|---|
| Dec 2021 | Funding | ₹398 crore | Temasek (lead) |
| Sep 2021 | Funding | $200 million+ | Falcon Edge (lead), SoftBank |
| Jul 2019 | Series B | Undisclosed | SoftBank |
Ather Energy: funding rounds
| Date | Round | Amount | Investors |
|---|---|---|---|
| May 2024 | Debt and equity | ₹286 crore | Stride Ventures, its co-founders |
| May 2022 | Funding | $128 million | NIIF, Hero MotoCorp |
Questions people ask
Which is bigger, Ola Electric or Ather Energy?
Ather, on the latest year. It reported revenue from operations of ₹3,671.76 crore in FY26, against ₹2,253 crore for Ola Electric. Ola was larger the year before, with ₹4,514 crore in FY25.
Is Ola Electric profitable?
No. Ola Electric reported a consolidated net loss of ₹1,833 crore in FY26 on revenue of ₹2,253 crore. Ather also made a loss, ₹517.17 crore in FY26, which was smaller than its ₹812.28 crore loss in FY25.
Who founded Ola Electric and Ather Energy?
Ola Electric was founded by Bhavish Aggarwal and is based in Bengaluru. The Ather profile names no founders, although it says its co-founders took part in a May 2024 funding round, so this page does not name them.
Which has raised more money?
On the rounds in the profiles, Ola Electric. It raised over $200 million in September 2021 and ₹398 crore in December 2021, besides a roughly $734 million IPO in August 2024. Ather's listed rounds are $128 million in May 2022 and ₹286 crore in May 2024.
Every figure on this page comes from the companies' StopDown profiles, which list the filing or statement behind each number: Ola Electric, Ather Energy. Revenue is revenue from operations unless the note says otherwise; valuations are as disclosed at a round or by the company; nothing here is investment advice. How StopDown counts.