[TusharK]

Ola Electric has raised US$ 300 million in its latest round of funding. The company is now valued at US$ 6 billion.



According to reports, the latest round of funding was headed by a well-known sovereign fund business. While details of the investors weren't provided, it is said that the company's top investor SoftBank Group did not take part in this round.

The fresh investment will be used to ramp up the production capacity of electric 2-wheelers from 0.5 million to 2 million units per year. The company also plans to set up a battery manufacturing unit under the government's production-linked incentive (PLI) scheme.

Ola Electric raised US$ 200 million in January last year at a US$ 5 billion valuation. It has secured around US$ 900 million in funding to date. Some of its biggest investors include Tekne Private Ventures, Alpine Opportunities Fund and Edelweiss.

Source: ET Auto

Link to Team-BHP News

[SmartCat]

Originally Posted by TusharK

Ola Electric has raised US$ 300 million in its latest round of funding. The company is now valued at US$ 6 billion.

Context:

Hero Moto

- Valuation of $6.3 billion
- owns 50% of Ather Energy
- Sells around 10,000 Ather scooter units per month
- Hero Moto themselves will launch Vida EV scooter soon
- Also sells around 400,000 petrol scooters & motorcycles per month
- Profit of $326 million last year

TVS Motors

- Valuation of $6.5 billion
- Maker of iQube EV scooter
- Sells around 12,000 iQube scooters per month
- Also sells around 200,000 petrol scooters & motorcycles per month
- Profit of $152 million last year

Ola Electric

- Valuation of $6 billion
- Maker of Ola scooters
- Sells around 18,000 units per month
- Profit of last year