NEW DELHI: Ola Electric, the electric vehicle arm of mobility firm Ola, on Monday announced it has raised over USD 200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others. The latest round values the company at USD 5 billion.
In September, Ola Electric had announced raising a similar amount in funding from Falcon Edge, SoftBank and others. That time the company was valued at USD 3 billion. Then in December, it raised USD 500 million in debt financing from marquee international institutional investors.
It had also raised about USD 52.7 million (Rs 398.3 crore) in Dec from investors such as Temasek, IIFL, Edelweiss, PayTM's Vijay Shekhar Sharma's VSS Investco and DST Global's Rahul Mehta.
The company counts other players/persons such as Hyundai Motor, Tiger Global and even Ratan Tata as its investors. "I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world," said Ola founder & CEO Bhavish Aggarwal.