Ola raises $139 million; valuation crosses $7 billion

| | Updated on: Dec 09, 2021
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Ola electric has also raised $52.7 million in a round led by Temasek

Bengaluru-based startup Ola has raised $139 million at a valuation of about $7.3 billion as a part of its Series J funding round. The funding round was led by Mumbai headquartered, financial giant Edelweiss. IIFL, Siddhant Partners, Tejal Merchantile, Hero Enterprise have also invested. An allocation of ₹4,63,471 shares has been made in Series J1 as Compulsorily Convertible Preference Shares (CCPS) at a premium price of ₹22,625 per share.

Ola electric has also raised $52.7 million in a round led by Temasek. The investment comes two months after Ola electric raised $200 million at a $3 billion valuation in a round led by Alpha Wave Global, according to TechCrunch.

Apart from PE funds, individuals and corporates have also poured in money in the company as a part of the new funding round.

Published on December 09, 2021

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