Ola Electric joined the Unicorn Club on July 02, 2019 after raising a $267 million Series B funding round, reaching a $1.01 billion valuation. Founded in 2017, the company is headquartered in Bengaluru, Karnataka, India. Ola Electric designs, manufactures, and distributes electric scooters while building charging infrastructure to support electric vehicle adoption.
The company operates a direct sales and service model, focusing on integrated electric mobility solutions for consumers.
Keep reading to learn how Ola Electric became a leading electric vehicle unicorn.
What Is Ola Electric and What Does It Do?
Ola Electric is an electric vehicle manufacturer focused on electric scooters and charging infrastructure. The company designs and manufactures its vehicles in house while managing distribution, sales, and service operations directly.
In addition to vehicles, Ola Electric develops charging networks and software systems to support long term electric mobility usage. Its vertically integrated approach enables tighter control over product design, manufacturing efficiency, and customer experience.
How Much Funding Has Ola Electric Raised?
1. Seed Round
- Amount Raised: $0.4 million
- Date: 2017
- Lead Investors: Early stage angel investors
- Purpose: Establish electric mobility venture and build initial product roadmap
2. Series A Round
- Amount Raised: $56 million
- Date: 2019
- Lead Investors: Tiger Global Management
- Purpose: Develop electric scooter prototypes and scale engineering teams
3. Series B Round
- Amount Raised: $267 million
- Date: July 2019
- Valuation: $1.01 billion
- Lead Investors: SoftBank
- Purpose: Commercialize electric scooters and build manufacturing capacity
4. Series C Round
- Amount Raised: $139 million
- Date: 2021
- Lead Investors: Temasek
- Purpose: Expand production, strengthen supply chain, and scale charging infrastructure
5. Series D Round
- Amount Raised: $200 million
- Date: 2022
- Lead Investors: Temasek, 360 One
- Purpose: Accelerate product launches and expand domestic market presence
6. Conventional Debt Financing
- Amount Raised: $12 million
- Date: June 2024
- Type: Conventional debt
- Purpose: Support working capital and operational requirements
Total Funding Raised: $1 billion Latest Funding Date: June 2024 Latest Known Valuation: $1.01 billion Employee Count: 3,326 as of August 2025
Key Investors
- Temasek
- Details: Global investment company headquartered in Singapore
- Focus Areas: Electric mobility, sustainability, and technology driven businesses
- 360 One
- Details: India focused investment and wealth management firm
- Focus Areas: Growth capital, consumer technology, and industrial innovation
Where Is Ola Electric’s Headquarters?
Ola Electric is headquartered in Bengaluru, Karnataka, India, serving as the central hub for its engineering, manufacturing strategy, and electric mobility innovation teams.
What’s Next for Ola Electric?
Ola Electric plans to expand its electric scooter portfolio, scale manufacturing output, and strengthen charging infrastructure across India. As a public company, it is focused on operational efficiency, product innovation, and deeper penetration into mass market electric mobility while advancing sustainable transportation solutions.
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