POWERED BY
Presenting
Ola Electric
Redefining electric mobility in India
Ola, one of the world’s largest ride-hailing companies, announced 'Mission: Electric', with a commitment to place 10,000 e-rickshaws in its service in the next 12 months. From cycle rickshaws to shuttles and last-mile transport, three-wheelers continue to be a dominant form of daily transit for many people in India. Building on the pioneering EV pilot by the company in Nagpur, Ola states that it believes electrification can improve outcomes for drivers, customers, and its business model. Ola Electric, which was set up in 2017, will work with driver-partners, cities, vehicle manufacturers, and battery companies to make sustainable technologies cost-effective and viable in daily mobility. Ola is the market leader in app-based hailing and intends to leverage its scale to bring cleaner, more comfortable, and safer products to the market. With investments from SoftBank, Tiger Global, Ratan Tata, and several others, the well-heeled startup became the fastest unicorn after Udaan.
  • Mobility / Transportation
  • Technology
  • Automotive
    HEADQUARTERS
    Bangalore, Karnataka, India
    COMPANY SIZE
    151 to 250
    FOUNDED
    26th May 2017

    Awards

    Awards and Recognitions
    01
    A YourStory list of startups in 2019 with groundbreaking ideas that are creating a deep impact.
    Ola Electric has an ambitious target in mind to deploy a million electric vehicles (EV) by 2021, with around 10,000 of them by end-2019 itself. Ola Electric is also building the charging infrastructure and swappable battery for these vehicles. In March this year, Hyundai Motor and Kia Motor announced an investment of $300 million in Ola with focus on electric vehicles. As part of this partnership, Hyundai, Ola, and Kia will develop unique fleets and different mobility solutions.

    Funding

    Funding Rounds and Investors
    SERIES-B
    $1M
    Investors
    Pawan Munjal
    Mar 2020
    CORPORATE-ROUND
    $14.8M
    Investors
    Hyundai Motor Company, Kia Motors
    Dec 2019
    SERIES-B
    $250M
    Investors
    SoftBank
    Jul 2019
    SERIES-A
    Undisclosed
    Investors
    Tata Sons Private Limited
    May 2019
    SERIES-A
    $56M
    Investors
    Tiger Global Management, Matrix Partners
    Mar 2019