June 22, 2024

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Ola Electric Mobility Received Investment From Ratan Tata

Ola Electric Mobility

Ola Electric Mobility, an electric vehicle business of cab aggregator Ola, have received a Series A round of funding from the top industrialist and a former Emeritus chairman.

Ola Electric Mobility Received Investment From Ratan Tata

The company has announced that this investment (undisclosed amount) is in Ratan’s Tata’s personal capacity in the newly formed electric cab sharing company.

Company raised Rs 400 crore from Tiger Global & Matrix India

The Ola Electric earlier raised about Rs 400 crore from Tiger Global and Matrix India and currently running pilots such as charging solutions, battery swapping stations, and deploying vehicles into two, three and four-wheeler segments.

The investments details had not been yet disclosed but if it is from one of the top industrialists we can expect the huge amount.

Ratan Tata said 

Ratan Tata, said, “The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development,”

“I have always admired the vision of Bhavish Aggarwal and I’m confident that this will be part of yet another important strategic move into this new business area.”

Ola Electric Mobility-Co-founder & CEO said

Bhavish Aggarwal, Co-founder & CEO, Ola said, “Mr. Tata has been an inspiration and a mentor to me personally in shaping Ola’s journey over the years,”

“I’m very excited to welcome him on board Ola Electric as an investor and a mentor in our mission of building sustainable mobility for everyone on our planet,”

“He is a visionary who has inspired a generation of entrepreneurs and we are privileged to have his guidance and support once again, as we work towards our goal of a million electric vehicles in India by 2021.”

“Ratan Tata has been an inspiration and a mentor to me personally in shaping Ola’s journey over the years.”

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