<p>Ola Electric has raised about $200 million (around Rs 1,500 crore) from a clutch of investors in a fresh funding round, valuing the electric vehicle maker at over $5 billion, according to sources.</p>.<p>Ola Electric has closed a $200 million round at over $5 billion valuation - a jump of almost 70 per cent from the previous round, they added.</p>.<p>The latest round saw participation from existing investors and some US-based bluechip tech funds, the sources said. When contacted, Ola declined to comment.</p>.<p>On September 30, Ola had announced raising over $200 million in funding from Falcon Edge, SoftBank and others, valuing it at $3 billion. While the round was closed around June, the official announcement was made recently. The company has previously raised over $600 million from investors, including Tiger Global and Matrix India.</p>.<p>This included a $100 million debt from Bank of Baroda that was announced in July. The fresh funding will help Ola Electric to accelerate vehicle development across its range of scooters including mass-market scooters, motorbikes, 4Ws and other vehicle form factors.</p>.<p>In September, Ola had stated that the sales of its S1 electric scooters crossed Rs 1,100 crore in two days. The two e-scooters - Ola S1 and S1 Pro - were unveiled in August this year. The purchase window will re-open in November. Ola has completed phase I construction of its manufacturing plant, spread across 500 acres, in Tamil Nadu.</p>.<p>The company had announced an investment of Rs 2,400 crore towards the facility. The factory will be run entirely by women and employ over 10,000 women at full scale.</p>.<p>The company had previously stated that it would initially start with a 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.</p>.<p>Ola Electric had claimed that its plant - when fully completed - would have an annual capacity of one crore units, "that is 15 per cent of the world's entire total two-wheeler production".</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>Ola Electric has raised about $200 million (around Rs 1,500 crore) from a clutch of investors in a fresh funding round, valuing the electric vehicle maker at over $5 billion, according to sources.</p>.<p>Ola Electric has closed a $200 million round at over $5 billion valuation - a jump of almost 70 per cent from the previous round, they added.</p>.<p>The latest round saw participation from existing investors and some US-based bluechip tech funds, the sources said. When contacted, Ola declined to comment.</p>.<p>On September 30, Ola had announced raising over $200 million in funding from Falcon Edge, SoftBank and others, valuing it at $3 billion. While the round was closed around June, the official announcement was made recently. The company has previously raised over $600 million from investors, including Tiger Global and Matrix India.</p>.<p>This included a $100 million debt from Bank of Baroda that was announced in July. The fresh funding will help Ola Electric to accelerate vehicle development across its range of scooters including mass-market scooters, motorbikes, 4Ws and other vehicle form factors.</p>.<p>In September, Ola had stated that the sales of its S1 electric scooters crossed Rs 1,100 crore in two days. The two e-scooters - Ola S1 and S1 Pro - were unveiled in August this year. The purchase window will re-open in November. Ola has completed phase I construction of its manufacturing plant, spread across 500 acres, in Tamil Nadu.</p>.<p>The company had announced an investment of Rs 2,400 crore towards the facility. The factory will be run entirely by women and employ over 10,000 women at full scale.</p>.<p>The company had previously stated that it would initially start with a 10 lakh annual production capacity and then scale it up to 20 lakh, in line with market demand, in the first phase.</p>.<p>Ola Electric had claimed that its plant - when fully completed - would have an annual capacity of one crore units, "that is 15 per cent of the world's entire total two-wheeler production".</p>.<p><strong>Check out DH's latest videos:</strong></p>