Total amount raised
$1.7 Billion
Latest funding date
6/1/2024
Location
Ola Electric has made significant strides in the electric vehicle market, focusing on innovative scooters and bikes designed for the Indian market. The company leverages its MoveOS platform to deliver smarter, connected, and constantly evolving experiences.
Keep reading to explore the intricacies of Ola Electric's fundraising journey and the investors backing this innovative platform.
What Is Ola Electric?
Ola Electric is a pioneering company in the electric vehicle industry, specializing in electric scooters and motorcycles. The company operates in India and aims to revolutionize mobility with a focus on sustainability and innovation.
Ola Electric offers a range of products powered by advanced technology, including the 4680 Bharat Cell and the MoveOS platform. With nearly 1 million riders, the company is committed to making India a global hub for electric vehicles.
How Much Funding Has Ola Electric Raised?
- Round Name: Private Equity
- Amount Raised: USD 140,000,000
- Date: September 2023
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansion and innovation efforts.
- Round Name: Series E
- Amount Raised: INR 11,919,050,000
- Date: October 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial position ahead of IPO.
- Round Name: Debt Financing
- Amount Raised: USD 240,000,000
- Date: October 2023
- Lead Investors: State Bank of India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs and expansion.
- Round Name: Debt Financing
- Amount Raised: INR 4,100,000,000
- Date: April 2024
- Lead Investors: EvolutionX Debt Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial position ahead of IPO.
- Round Name: Debt Financing
- Amount Raised: INR 1,000,000,000
- Date: June 2024
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial position ahead of IPO.
- Round Name: Post-IPO Debt
- Amount Raised: INR 17,000,000,000
- Date: March 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs and expansion.
- Round Name: Post-IPO Secondary
- Amount Raised: INR 6,893,500,000
- Date: June 2025
- Lead Investors: Citigroup Global Markets
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs and expansion.
Total Amount Raised: USD 240,000,000 + INR 11,919,050,000 + INR 4,100,000,000 + INR 1,000,000,000 + INR 17,000,000,000 + INR 6,893,500,000 + USD 140,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Bhavish Aggarwal
- Details: Bhavish Aggarwal is the founder and CEO of Ola Electric. He holds the largest stake in the company at 36.94%.
- Investment Focus Areas: Overall company growth, strategic direction, innovation.
- Notable Investments: As the founder, his primary focus is on Ola Electric.
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company. It holds a 21.98% stake in Ola Electric.
- Investment Focus Areas: Technology, innovation-driven companies, high growth potential sectors.
- Notable Investments: Uber, WeWork, Alibaba.
- Tiger Global
- Details: Tiger Global is an American investment firm that focuses on internet, software, consumer, and financial technology sectors. It owns 6.03% of Ola Electric.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Flipkart.
- Indus Trust
- Details: Indus Trust is an investment entity that holds a 3.85% stake in Ola Electric. It is likely involved in strategic investments in high-growth sectors.
- Investment Focus Areas: Strategic investments, high-growth sectors.
- Notable Investments: Specific notable investments are not detailed.
- Alpha Wave
- Details: Alpha Wave is part of Falcon Edge Capital and holds a 3.49% stake in Ola Electric. It focuses on technology and innovation-driven companies.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: Delivery Hero, Zomato.
What's Next for Ola Electric?
Ola Electric stands at the cusp of significant growth opportunities, driven by its upcoming IPO aimed at raising Rs 5,500 crore. This capital will enable the company to expand its cell manufacturing plant, intensify R&D efforts, and pursue organic growth initiatives. With a 52% market share in the Indian EV market, Ola Electric is well-positioned to leverage these funds for further expansion and technological advancements.
Future fundraising opportunities are abundant, with the IPO setting the stage for continued public market opportunities and potential strategic partnerships. The company has already raised over $1 billion in equity and debt, and the successful IPO could attract further rounds of funding, bolstering its financial position and market presence.
However, challenges remain. Ola Electric faces stiff competition from established players like Hero Electric and Ather Energy. Additionally, managing increased losses and meeting investor expectations post-IPO will be crucial. Navigating these challenges while capitalizing on growth opportunities will determine the company's trajectory in the rapidly evolving EV market.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Ola Electric and gather other critical business insights.
Sign up for free to start making data-driven decisions and stay ahead in the competitive market.
