Ola Electric announced to allocate $200 million at over $5-billion valuation
On September 30, Ola had announced raising over $200 mn in funding from Falcon Edge, SoftBank and others, valuing it at $3 bn from a bunch of investors in a fresh funding round, appraising the electric vehicle producer at over $5 billion, as stated by the sources. The sources asserted that the latest round heeds participation from existing investors and some US-based bluechip tech funds. When contacted, Ola refused to comment. While the round was concluded around June, the official proclamation was addressed recently. Previously, the company has raised over USD 600 million from investors, including Tiger Global and Matrix…