Ola Electric, founded by Bhavish Aggarwal, is now valued at $5 billion thanks to a $200 million investment from Tekne Private Ventures, Alpine Opportunity Fund, and Edelweiss.
Last December, the electric vehicle manufacturer raised $500 million from prominent institutional investors through a Term Loan B (TLB), which drew a massive response from investors, with interest and commitments totaling $1.5 billion.
Ola Electric has created the Futurefactory, the world’s largest two-wheeler manufacturing facility, as well as the Ola S1 scooters, a disruptive Direct-to-Consumer model with entirely digital purchasing, home test rides, doorstep delivery, and after-sales care, in the last 12 months.