Indian electric two-wheeler manufacturer, Ola Electric in a statement said that it has raised further funding at an increased valuation of $5 billion, roughly converted to ₹ 37,000 Crores. The company has announced that it has raised over $200 million, roughly converted to around ₹1,490.5 crores from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others.
The funding is likely to help ramp up Ola’s production capacity at its ‘Futurefactory’, which aims to be the World’s largest two-wheeler manufacturing facility. The facility employs over 10,000 women and is one of the largest women-only factories globally.
The Ola S1 e-scooter claims to cover 121 Km on a single charge. The more expensive, S1 Pro has a listed distance of around 180 Km on single charge.