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Founded
2017
Headquarters
Bengaluru (India)
Status
Public
Company Details
Ola Electric is India’s leading electric vehicle (EV) manufacturer, focused on revolutionizing sustainable urban mobility. Ola Electric operates at the forefront of the EV industry, designing and manufacturing electric two-wheelers and developing core EV components such as batteries, motors, and vehicle frames. The company’s flagship products include the Ola S1 series (S1 Air, S1X, S1 Pro, S1 X+), with a rapidly expanding portfolio that will soon include electric motorcycles and three-wheelers.
Core Products & Services
Electric Scooters: Ola S1 series, targeting both mass and premium segments.
Upcoming Electric Motorcycles: Roadster series, launching in 2025.
Charging Infrastructure: Ola Hypercharger Network, one of the densest two-wheeler charging networks in India.
Battery Manufacturing: In-house cell and battery production at the Ola Gigafactory.
Value-Added Services: Maintenance, after-sales support, and digital purchase platforms.
Customer Segmentation
B2C: Urban commuters, delivery service providers, and eco-conscious consumers.
B2B: Fleet operators, logistics companies, and institutional buyers.
International Customers: Through exports to Africa, LATAM, and Southeast Asia.
Growth Strategy
Product Expansion: Launching new models (motorcycles, three-wheelers) and expanding the vehicle portfolio.
Network Expansion: Growing the omnichannel sales and service network, including charging infrastructure.
Vertical Integration: Scaling in-house battery and component manufacturing for cost control and supply chain resilience.
Innovation: Investing in R&D, battery technology, and digital platforms for customer engagement and operational efficiency.
Geographic Expansion: Increasing exports and exploring new international markets.
Conclusion
Ola Electric is redefining India’s EV industry with its vertically integrated, scalable, and customer-centric business model. By combining affordable, innovative electric vehicles with a robust charging network, in-house battery manufacturing, and direct-to-consumer sales, Ola Electric is positioned as a market leader and a compelling opportunity for investors, researchers, and industry professionals seeking insight into the future of sustainable mobility.
Key Metrics
Total Equity Funding
$1.2 billion
No. of Funding Rounds
14
Latest Funding Round
$2.4Million, Angel
as of December 6, 2023
Post Money Valuation
$5.75 billion
as of N/A
Funding Multiple
4.0
as of N/A
Investors
Temasek
and 4 moreEmployee Count
7273
Similar Companies
Baaz
Exit Details
Public
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| December 6, 2023 | Angel | $2.4Million | $5.8Billion | $562.0Million | - | - |
| July 14, 2023 | Series E | $140.0Million | $5.8Billion | $442.0Million | 11.9x | Temasek, Tiger Global Management, DIG Investment, Blue Investment, Tekne Capital Management |
| April 1, 2022 | Series D | $7.5Million | $5.3Billion | Alpha Wave Global | ||
| February 25, 2022 | Series D | $123.0Million | $5.3Billion | $57.3Million | Alpine Investors, Tekne Capital Management, DIG Investment, Ab Initio Capital | |
| January 22, 2022 | Series C | $200.0Million | $53.4Million | Tekne Private Ventures, Alpine Opportunity Fund, Tekne Capital Management, DIG Investment, Ab Initio Capital, Ashna Advisors, Alpha Wave Global, Alpine Investors | ||
| October 4, 2021 | Series C | $200.0Million | $2.9Billion | $41.7Million | 60.5x | Alpha Wave Investors, Alpha Wave Global, Temasek, DIG Investment, VSS Investco ,SoftBank, MacRitchie Investments, Edelweiss, 360 One, Ashna Advisors, Azara |
| March 12, 2020 | Series B | $1.4Million | $18.4Million | Pawan Munjal Family Trust | ||
| July 2, 2019 | Series B | $267.0Million | $1.0Billion | $6.4Million | Pawan Munjal Family Trust | |
| May 6, 2019 | Series A | $2.1Million | $286.0Million | $3.3Million | 75.9x | RNT Associates |
| February 26, 2019 | Series A | $57.0Million | $277.0Million | Tiger Global Management, RNT Associates, Sarin Family India, India Internet Fund, Z47 |