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
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Alcatel-Lucent Enterprise Carrying a 100 year legacy ahead
A good amount of R&D works and global support services are operated out of
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
INFOSYS TECHNOLOGIES PVT. LTD.
DATA SAFEGUARD INDIA PRIVATE LIMITED
PDRL - Passenger Drone Research Pvt. Ltd.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
ICONS OF INDIA : SUNIL VACHANI
Sunil Vachani is the Chairman of Dixon Technologies (India) Ltd. Under...
PARTNER SPEAKERS
PSU
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
DRDO - Defence Research and Development Organisation
DRDO responsible for the development of technology for use by the mili...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
