Funding · Mobility & Logistics

SoftBank's $250 million makes Ola Electric a unicorn

What they do

Ola Electric was then the new electric vehicle arm of ride-hailing company Ola, only a few months old as a separate firm

In July 2019 SoftBank Vision Fund put in $250 million in a Series B round, valuing it at $1 billion

It followed a ₹400 crore round from Tiger Global and Matrix Partners two months earlier, backing a plan for a million EVs by 2022

Ola Electric Mobility raised $250 million from SoftBank Vision Fund in July 2019.
It was a Series B round at a valuation of $1 billion.
The shares were allotted on 2 July 2019.
It was the company's third outside round in about two months.
Ola and Ola Electric became two unicorns under one parent company.

Two months earlier, Tiger Global, Matrix Partners and Sarin Family India had put in ₹400 crore.
Ratan Tata also invested after the first round.
Ola planned to put one million electric vehicles on the road by 2022.