Ola Electric Scooter raised fresh funding of $200 million at a valuation of $5 billion. The company has announced that it has raised over $200 million, roughly converted to around ₹1,490.5 crores.
The company raised its funds from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others.
It raised its funding earlier in September last year of $200 million at a valuation of $3 billion.
Ola Chairman and group executive officer Bhavish Aggarwal said in a tweet on January 21, “Scooters are ready, are you? Which one of these will you make yours?! Window to make your final payment opens at 6 pm today only on the OLA APP! We'll dispatch across Jan, Feb.”
The Ola electric scooter battery comes with a three years warranty while for the vehicle it is for three years or 40,000 kilometers whichever happens first.
Several states have already announced subsidies on the Ola e-scooter like Delhi, Gujarat, Maharashtra, Odisha and Rajasthan on the basis of the Faster Manufacturing and Adoption of Electric Vehicles in India Phase 2 (FAME-II) subsidy offered.