Ola Electric ListedUnicorn
Ola Electric Mobility Ltd is a Bengaluru-headquartered, vertically integrated Indian electric-vehicle manufacturer producing electric scooters (S1 series) and motorcycles (Roadster series), with in-house battery-cell (Gigafactory) and vehicle (Futurefactory) manufacturing in Krishnagiri, Tamil Nadu. It listed on the NSE and BSE in August 2024 in India's largest IPO of that year.
Ola Electric: Funding Rounds
| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 9 Aug 2024 | IPO (NSE: OLAELEC / BSE: 544225) | ₹5,500.06 crore fresh issue (₹6,145.56 crore total incl. OFS) | source | |
| 26 Oct 2023 | Series E extension + Debt | $384.43 Mn ($144.43 Mn equity + $240 Mn debt) | Temasek State Bank of India | source |
| 24 May 2023 | Series E | $300 Mn | source | |
| 24 Jan 2022 | Series D | $200+ Mn | Alpine Opportunity Fund Edelweiss Tekne Private Ventures | source |
| 9 Dec 2021 | Series C (extension) | $53 Mn (₹398 crore) | Temasek Edelweiss PE IIFL | source |
| 30 Sep 2021 | Series C | $200+ Mn | Falcon Edge Capital SoftBank | source |
| 1 Jul 2019 | Series B | $250 Mn | SoftBank Vision Fund | source |
| 6 May 2019 | Series A (individual investor) | Undisclosed | Ratan Tata | source |
| 28 Feb 2019 | Seed / Series A | ₹400 crore (~$56 Mn) | Tiger Global Management Matrix Partners India | source |
Acquisitions
| Date | Acquirer | Acquired | Amount | Source |
|---|---|---|---|---|
| 28 May 2020 | Ola Electric | etergo-bv-amsterdam-based-electric-scooter-maker | Undisclosed deal price; Etergo later implied-valued at ~€3.75 Mn (~$4.44 Mn) per investor share-redemption calculations | source |
Recent Signals
-
29 May 2026 · market-expansion
Ola Electric plans to scale in-house battery-cell (Gigafactory) capacity from ~6 GWh toward 20 GWh by 2027 source -
15 Feb 2026 · competitive
Ola Electric's EV two-wheeler market share collapses from 39.5% (Jan 2024) to 5.87% (Jan 2026) source -
13 Feb 2026 · financial
Q3 FY26: revenue falls 55% YoY to ₹470 crore, but gross margin hits record 34.3% amid a 'structural reset' source
News on Ola Electric
L Litmus · by Lapaas
Got an idea like this one? Validate it with the same 9-block framework, free.
Start Free ValidationFAQs on Ola Electric
Who founded Ola Electric?
Ola Electric was founded by Bhavish Aggarwal, Anand Shah in 2017.
How much funding has Ola Electric raised?
Ola Electric has raised $1.44 Bn across 9 tracked funding round(s), most recently on 2024-08-09. Figures are compiled from cited public sources.
Who are the investors in Ola Electric?
Investors in Ola Electric include Temasek, State Bank of India.
What does Ola Electric do?
Ola Electric Mobility Ltd is a Bengaluru-headquartered, vertically integrated Indian electric-vehicle manufacturer producing electric scooters (S1 series) and motorcycles (Roadster series), with in-house battery-cell (Gigafactory) and vehicle (Futurefactory) manufacturing in Krishnagiri, Tamil Nadu. It listed on the NSE and BSE in August 2024 in India's…
Where is Ola Electric headquartered?
Ola Electric is headquartered in Bengaluru, Karnataka, India.
What is Ola Electric's business model?
Ola Electric's core value proposition centers on Lower running cost + OTA-updatable smart EVs, India-made, vertically integrated EV ecosystem.
How does Ola Electric make money?
Ola Electric's cited revenue streams include Direct vehicle sales (scooters and motorcycles), Energy / battery products (Ola Shakti), Financing/EMI facilitation and accessories.