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Ola Electric is a product by Ola, one of the world’s largest ride-hailing companies. It aims to place 10,000 e-rickshaws in service over the next 12 months.
Basic Information
Ola Electric is a product by Ola, one of the world’s largest ride-hailing companies. It aims to place 10,000 e-rickshaws in service over the next 12 months. Building on the EV pilot by the company in Nagpur, Ola believes that 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 startup became the fastest unicorn after Udaan.
Legal Name
:
Ola Electric Mobility Private Limited
Headquarters
:
Bangalore, Karnataka, India
Business Model
:
B2C  
Founding Date
:
26th May 2017
No. of Employees
:
151 to 250
Core Team
:
1.  
Ankit Jain
Co-Founder
2.  
Anand Shah
Co-Founder
3.  
Sarmad Nazki
Head of Finance
4.  
Bhavish Aggarwal
Co-Founder

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Funding
Investors
:
1.  
Pawan Munjal
2.  
Hyundai Motor Company
3.  
Matrix Partners India
4.  
Kia Motors

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Detail Round Breakdown
Round 1
Round 2
Round 3
Round 4
Round 5

$56M

Series Name
:
SERIES-A
Date
:
Mar 2019
Investors
:
1.  
Tiger Global Management
2.  
Matrix Partners