Ola Electric valued at $5 billion after raising $200 million
By MYBRANDBOOK
After Bhavish Aggarwal founded Ola Electric raised $200 million from Tekne Private Ventures, Alpine Opportunity Fund, and Edelweiss, among others, the electric two-wheeler manufacturer is now valued at $5 billion.
“Ola Electric is creating India’s EV revolution and is driving cutting-edge manufacturing from India for the entire world,” said Bhavish Aggarwal, Founder and CEO, Ola Electric on the development. “With Ola S1, the best scooter ever made, we’ve changed the entire scooter industry and are now looking forward to bringing our innovative products to more two-wheeler categories, including bikes as well as cars. I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world.”
The EV maker had raised $500 million through a Term Loan B (TLB) last December from marquee institutional investors. The fundraising received a staggering response from investors, with interest and commitment of about $1.5 billion.
Over the last 12 months, Ola Electric has built the Futurefactory , the world’s largest two-wheeler woman-only manufacturing facility, and Ola S1 scooters, a disruptive Direct-to-Consumer model with fully digital purchase, coupled with home test rides, doorstep delivery, and after-sales service.
The Tamil Nadu-based Futurefactory can employ over 10,000 women at full capacity, and is said to be the world’s largest factory and the only all-women automotive manufacturing facility globally.
Today, Ola continues to move the world to sustainable mobility through its ride-hailing platform and advanced electric vehicles manufactured at its Futurefactory, dedicated to transitioning the world to sustainable mobility and making the world better than we found it.
BREAKING NEWS
TECHNO TRENDS
Google Pay has added "Open Wallet" shortcut
With the introduction of the "Open Wallet" shortcut, Google Pay has impro...
TRAI targets to finalise National Broadcast Policy by May-end
The Telecom Regulatory Authority of India will finalise the National Broa...
TAC Security becomes Cyber Security Assessor for the App Defen
The cybersecurity company, TAC Security has been selected as a key Cyber ...
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
E-Magazine
TECHNOTAINMENT
Salman Khan trolled for singing with B Praak at Anant Ambani's
To celebrate Mukesh Ambani's youngest son Anant Ambani’s 29th birthday
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
MOVERS & SHAKERS
Nium Appoints Alexandra Johnson appoints as Chief Payments Off
Nium, the leader in real-time cross-border payments, today announced the ap
SISL elevates Ankita Wadhawan as CEO—End User Computing
The IT service provider, SISL in a LinkedIn post announced the elevation
OPEN YOUR EYES
INTERVIEWS
Cisco committed to help build trusted, resilient future for or
Cisco is delivering on its promise of the AI-driven Cisco Security Cloud to
AMD Pensando innovation CONTINUES
In 2022, AMD announced its acquisition of Pensando Systems, an addition to
HOT PICK
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
Canon India Introduces 4K Remote PTZ Camera Controller & 4K In
Canon India, a leading company in digital imaging solutions, further solidi
MAKE IN INDIA BRANDS
SAMRIDDHI AUTOMATIONS PVT. LTD.
EXIDE INDUSTRIES LTD.
INFOSYS TECHNOLOGIES PVT. LTD.
GLOBUS INFOCOM LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Bhavish Aggarwal
Ola CEO Bhavish Aggarwal had formed Ola-India’s largest mobility pla...
Technology Icons Of India 2023: Ritesh Agarwal
Ritesh Agarwal Founder & CEO of OYO Hotels & Homes-World’s fastest g...
Technology Icons Of India 2023: Rajiv Memani
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
PARTNER SPEAKERS
PSU
Aadhaar: Architecting the World's Largest Biometric Identity System
The Unique Identification Authority of India (UIDAI) is a statutory au...
NIC bridging the digital divide and supporting government in eGovernance
The National Informatics Centre (NIC) is an Indian government departme...
DRDO is India's largest and most diverse research organisation
DRDO is the R&D wing of Ministry of Defence, Govt of India, with a vis...
VIDEOS
Top 25 Brands
Value-Added Distribution
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
INFLOW TECHNOLOGIES PVT. LTD.
Inflow Technologies is a niche player in the IT Infrastructure Distrib...
EXCLUSIVE NETWORKS SALES INDIA PVT. LTD.
Exclusive Networks is a globally trusted cybersecurity specialist hel...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
