Funding · Mobility & Logistics

Ola Electric raises $200 million at $3 billion value

By Startup Enthusiast · 30 September 2021

What they do

Ola Electric had just started selling its first electric scooter and was building a large factory in Tamil Nadu

In September 2021 it raised over $200 million led by Falcon Edge and SoftBank, tripling its valuation to $3 billion

The money was to speed up work on an electric motorcycle, a cheaper scooter and an electric car

Ola Electric raised more than $200 million at the end of September 2021.
Falcon Edge and SoftBank led the round, with other investors joining.
It valued the company at $3 billion, three times its 2019 value.
The money was for new vehicles: an electric motorbike, a mass-market scooter and an electric car.
Bhavish Aggarwal said India could build future technologies for the world.

Ola was pushing Mission Electric, calling for no new petrol two-wheelers after 2025.
SoftBank had made Ola Electric a unicorn in 2019.
The company was then only about four years old.