Round Type
Funding Round
MumbaiTransportationAutomotiveElectric VehicleInvestors
Description
Singapore's investment firm Temasek led a $140 million funding round in India's Ola Electric at a valuation of $5.4 billion, two sources with the direct knowledge said, the latest funding for the e-scooter maker before its initial public offering. The investment round has been closed and Ola will be receiving the funds within a week's time, though there will be another round of fund raising before it files papers for an up to $1 billion IPO planned for late 2023, said the first source. Ola did not respond to a Reuters request for comment, while Temasek, which is an existing investor in Ola Electric, declined to comment. Ola Electric, founded by Bhavish Aggarwal and backed by Japan's SoftBank Group, has become India's e-scooter market leader with a 32% share, competing with Ather Energy as well as companies such as TVS Motor and Hero Electric
Quick answer
Ola Electric raised an undisclosed amount in a Funding Round round, dated September 7, 2023. Investors: Caps Reset, Escape, Hero Electric, TVS Motor, Ather Energy, Soft Bank Group and Temasek. Ola Electric is based in Mumbai, Maharashtra, India.
- How much did Ola Electric raise?
- Ola Electric raised an undisclosed amount in a Funding Round round on September 7, 2023.
- Who invested in Ola Electric?
- Caps Reset, Escape, Hero Electric, TVS Motor, Ather Energy, Soft Bank Group and Temasek are named as investors in this round.
- What does Ola Electric do?
- Ola Electric is an Indian electric vehicle manufacturer established in 2017 by Bhavish Aggarwal, who is also a co-founder of Ola Cabs.
- Where is Ola Electric based and how big is it?
- Ola Electric is based in Mumbai, Maharashtra, India. Fundz records about 960 employees.
- Who are the decision-makers at Ola Electric?
- Fundz holds 2 contacts at Ola Electric. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Transportation and Automotive around the same time
Companies in the same sectors as Ola Electric that raised within 45 days of this round, from Fundz verified event records.
- Jetson raised $15M (Funding Round) on October 3, 2023.
- Blacklane raised an undisclosed amount (Series D) on September 29, 2023.
- Ather Energy raised $66M (Funding Round) on September 4, 2023.
- Harbinger raised $73M on August 1, 2023.
- Carvolution raised $28M (Funding Round) on July 26, 2023.
- Position Imaging raised $30M (Funding Round) on October 22, 2023.
Who to call at Ola Electric, and when
A new round usually means Ola Electric is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Ola Electric raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Ola Electric, from your own LinkedIn network
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Fundz sees it the moment Ola Electric raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Related People
Ola Electric raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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