Leading EV maker Ola Electric on Monday announced it has raised over $ 200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others.
A press release from the company said that the latest round values the company at $5 billion. Over the last 12 months, the company has built the Futurefactory to make electric vehicles and Ola S1 - the scooter sold directly to consumer models with fully digital purchase coupled with home test rides and doorstep delivery.
Bhavish Aggarwal, Founder & CEO, Ola, said that with Ola S1, the company is now looking forward to bringing its innovative products to more two-wheeler categories, including bikes and cars.
Ola Futurefactory, which will employ over 10,000 women at full capacity, will be the world’s largest women-only factoryglobally and the only all-women automotive manufacturing facility. The company is accelerating the world's transition to sustainable mobility by replacing the archaic systems with vehicles that are smart, affordable, and good for the planet, the company added.