Ola Electric raises $200 mn at over $5 billion valuation: Report

Ola Electric has raised about $200 million from a clutch of investors in a fresh funding round. 

New Delhi: Ola Electric has raised about USD 200 million (around Rs 1,500 crore) from a clutch of investors in a fresh funding round, valuing the electric vehicle maker at over USD 5 billion, according to sources.

Ola Electric has closed a USD 200 million round at over USD 5 billion valuation - a jump of almost 70 per cent from the previous round, they added.

The latest round saw participation from existing investors and some US-based bluechip tech funds, the sources said.