PE Fund Investments
EV maker Ola Electric raises $200-M from Tekne Capital, others
Bengaluru-based Ola Electric, the Unicorn EV arm of cab hailing app Ola, has raised USD 200 million from Tekne Capital, Alpine Opportunity Fund, Edelweiss and others. Post-the investment, Ola Electric is valued at USD 5 Billion. The company, which has started making electric two-wheelers at a new plant in Tamil Nadu, plans to expand into bikes, as well as cars, This is Ola Electric's seventh fundraising, excluding the USD 100 million it received from Bank of Baroda, since inception. Last September, Ola Electric had announced raising a similar amount in funding from Falcon Edge, SoftBank and others that had valued it at USD 3 Billion. The company counts Hyundai Motor Co, Tiger Global, Matrix Partners India and Ratan Tata among its investors.
From the Venture Intelligence PE-VC Deal Database: Between Feb-19 and Dec-21, Ola Electric raised $562.7 M from Edelweiss PE, IIFL VC, Temasek, Alpha Wave Global, SoftBank Corp, Munjal Family Office, Arun Sarin Family, Ratan Tata, Matrix Partners India, Tiger Global, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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