Fundraise of $200 mn triples Ola Electric valuation to $3 billion

In July 2019, Ola Electric raised $250 mn from SoftBank, when it was just a two-year-old firm. The investment made the fledgeling venture a unicorn

Ola Electric, the ride-hailing firm's electric vehicle arm has raised over $200 million led by Falcon Edge, Softbank and others, tripling its valuation to $3 billion.

In July 2019, Ola Electric raised $250 million from Masayoshi Son’s SoftBank. It was just a two-year-old firm at that time. The investment made the fledgling venture a “unicorn”, or a start-up valued at more than $1 billion.

Ola will accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car.  The funding will further strengthen Ola’s ‘Mission Electric’- which urges the industry and consumers to commit to electric