The firm had also raised a similar amount of investment from SoftBank, Falcon Edge and others at a valuation of $3 billion last year
Electric two-wheeler firm Ola Electric Mobility has raised $200 million (about ₹1,500 crore) in a funding round from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others at a valuation of $5 billion.
The fresh capital will bolster Ola’s ambitions in the electric mobility space as it looks to launch a suite of new products including electric bikes and cars going ahead.
“Ola Electric is creating India’s EV revolution and is driving cutting edge manufacturing from India for the entire world. With Ola S1, the best scooter ever made, we’ve changed the entire scooter industry and are now looking forward to bringing our innovative products to more two-wheeler categories including bikes as well as cars,” says Bhavish Aggarwal, founder & CEO at Ola.
The firm had also raised a similar amount of investment from SoftBank, Falcon Edge and others at a valuation of $3 billion last year.
This comes as the Bengaluru-based firm comes at a time when the company is gearing up to launch its scooters in global markets.
VCCircle had reported in November that the company was eyeing the launch of its S1 and S1 Pro electric scooters in top two-wheeler markets in Europe including France, Germany and Italy.
The EV firm recently claimed that it has completed the first batch of dispatches for its S1 and S1 Pro scooters. The company, in November, had pushed back the deliveries of its electric scooters citing global semiconductor shortage.