Ola Electric is raising another $200 mn at over $5 bn valuation: Sources
Ola Electric is raising another $200 million (around Rs 1,500 crore) from a clutch of investors in a fresh funding round, valuing the electric vehicle maker at over $5 billion, according to sources.
The latest round is seeing participation from existing investors and some US-based bluechip tech funds, the sources said.
When contacted, Ola declined to comment.
On September 30, Ola had announced raising over $200 million in funding from Falcon Edge, SoftBank and others, valuing it at $3 billion.
While the round was closed around June, the official announcement was made recently.
The company has previously raised over USD 600 million from investors, including Tiger Global and Matrix India. This included a $100 million debt from Bank of Baroda that was announced in July.
