Ola Electric’s valuation touched $3 billion (about Rs 22,272 crore) on Thursday after it announced that it has raised over $200 million (about Rs 1,484.7 crore) from Falcon Edge, SoftBank and others.
Ola said with the fresh fund infusion it would accelerate development of other vehicle platforms, such as electric motorbike, mass market scooter, and electric car.
In July, Ola Electric had announced signing a $100-million (about Rs 744.5 crore) 10 year-term debt financing agreement with Bank of Baroda. In the past, Ola Electric has raised funding from investors, including Tiger Global and Matrix India.
