Ola Electric gets $200 million funding at $3 billion valuation
Mumbai: Ola Electric has raised more than $200 million from Falcon Edge, SoftBank Group and others at a valuation of $3 valuation, the electric vehicle (EV) arm of the ride-hailing startup said.
The funding will strengthen Ola’s “Mission Electric”, which urges industry players and consumers to commit to electric so that no petrol two-wheelers are sold in India after 2025, according to a statement issued on Thursday. It will also accelerate development of other vehicle platforms, including electric motorcycles, mass-market scooters and an electric car.
“I thank our existing investors and welcome new ones to Ola. Together we will bring mobility to a billion and sustainability to the future,” Ola CEO Bhavish Aggarwal said.
