Ola Electric raises $200-M more: report

Bangalore-based unicorn electric vehicle maker Ola Electric has raised about USD 200 million (around INR 1,500 crore) from a clutch of investors in a fresh funding round, valuing the firm at over USD 5 billion. The round saw participation from existing investors and some US-based tech funds. The funding will help the unicorn to accelerate vehicle development across mass-market scooters, motorbikes and 4Ws. Ola has completed phase I construction of its manufacturing plant, spread across 500 acres, in Tamil Nadu. The company had announced an investment of INR 2,400 crore in the facility.