Private Equity Fund Investments
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.
From the Venture Intelligence PE-VC Deal Database: Between Feb-19 and Sep-21, Ola Electric had raised more than INR 3,630 crore from Arun Sarin Family, Ratan Tata, Matrix Partners India, Tiger Global, Munjal Family Office, SoftBank Corp and Falcon Edge Capital.
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