Ola Electric, India’s leading electric vehicles manufacturer, today announced that it has raised over $200 million in a funding round, led by Falcon Edge, Softbank and others. The latest funding round took the company's valuation to $3 billion.
Ola Electric, the EV arm of the ride-hailing startup Ola, said, the current round will help it accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car.
"I thank our existing investors and welcome new ones to Ola. Together we will bring mobility to a billion and sustainability to the future," Ola founder and CEO Bhavish Aggarwal said.
“We are proud to lead the EV revolution from India to the world. India has the talent and the capability to build technologies of the future for the industries of the future for the entire world," he added.