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. See more

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

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Funding

Total Funding

$307.0M

Investors

:

1.

Pawan Munjal

2.

Hyundai Motor Company

3.

Matrix Partners India

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Detail Round Breakdown

Round 1
Round 2
Round 3
Round 4
Round 5
Round 6

$56M

Series Name

:

OTHER

Date

:

Mar 2019

Investors

:
1.

Tiger Global Management

2.

Matrix Partners