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Ola Electric raises over USD 200 million

Bengaluru based Ola Electric has raised over $200 million led by Falcon Edge, Softbank and others, at a valuation of $3 billion. 

Published: 01st October 2021 10:44 AM  |   Last Updated: 01st October 2021 10:44 AM   |  A+A-

The first in a range of Ola electric two-wheelers, the Ola Scooter will roll out from the Ola Futurefactory, being built on a 500-acre site in Tamil Nadu.

Image for representation

By Express News Service

NEW DELHI:  Bengaluru based Ola Electric has raised over $200 million led by Falcon Edge, Softbank and others, at a valuation of $3 billion.  The fundraise comes right after the company had launched its first electric scooter, called Ola S1, which comes at a starting price of  Rs 99,999 (excluding state subsidiary) and Ola had claimed that it sold scooters worth Rs 1,100 crore in just two days.

Ola said it will use the funds to accelerate the development of other vehicle platforms including electric motorbike, mass-market scooter and its electric car. Bhavish Aggarwal, Chairman and Group CEO, Ola, said, “We’re proud to lead the EV revolution from India to the world. India has the talent and the capability to build technologies of the future for the industries of the future for the entire world.” 



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