About Ola Electric
Ola Electric is a company based in Bengaluru (India) founded in 2017 by Bhavish Aggarwal.. Ola Electric has raised $1 billion across 14 funding rounds from investors including SoftBank, Kia and State Bank of India. The company has 13,730 employees as of March 31, 2024. Ola Electric has completed 1 acquisition, including Etergo. Ola Electric offers products and services including Ola S1 Pro+, Ola S1 X+, Ola S1 X, Ola S1 Z, and Roadster X. Ola Electric operates in a competitive market with competitors including Ather Energy, Gogoro, Hero Electric, BGauss and River, among others.
- Headquarter Bengaluru, India
- Employees 13730 as on 31 Mar, 2024
- Founders Bhavish Aggarwal
- Stage Public
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Ola Electric Mobility Limited
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Annual Revenue
$481.78 M (USD)-16.05as on Mar 31, 2024
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Net Profit
$-265.89 M (USD)-43.65as on Mar 31, 2024
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EBITDA
$-246.03 M (USD)-57.71as on Mar 31, 2024
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Total Equity Funding
$1 B (USD)
in 14 rounds
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Latest Funding Round
$11.97 M (USD), Debt – Conventional
Jun 12, 2024
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Investors
SoftBank
& 58 more
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Employee Count
13730
as on Mar 31, 2024
- Investments & Acquisitions
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IPO & Listings of Ola Electric
Ola Electric is a publicly listed company on the NSE with ticker symbol OLAELEC in India, operating in the Consumer durables sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Ola Electric
Ola Electric offers a comprehensive portfolio of products and services, including Ola S1 Pro+, Ola S1 X+, Ola S1 X, Ola S1 Z, and Roadster X. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
High-performance scooter with long range and fast acceleration for urban commuting.
Affordable scooter offering efficient range and speed for daily rides.
Budget-friendly model with portable batteries for flexible urban travel.
Compact scooter designed for short trips with easy battery swapping.
Powerful motorcycle for high-speed rides with extended range capabilities.
Advanced motorcycle featuring enhanced performance and battery options.
Versatile motorcycle for city and highway use with reliable efficiency.
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Software Development Team
24 people
Product Management Team
10 people
Principal Team
6 people
Leadership Team
5 people
Sales and Marketing
5 people
Senior Team
5 people
Finance and Accounting
4 people
Creative and Marketing Team
4 people
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Funding Insights of Ola Electric
Ola Electric has successfully raised a total of $1B across 14 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $11.97 million completed in June 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 14
- Last Round Debt – Conventional — $12.0M
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First Round
First Round
(26 Feb 2019)
- Investors Count 59
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2024 | Amount | Debt – Conventional - Ola Electric | Valuation |
investors |
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| Apr, 2024 | Amount | Debt – Conventional - Ola Electric | Valuation |
investors |
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| Dec, 2023 | Amount | Angel Round - Ola Electric | Valuation | Karan Danthi |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ola Electric
Ola Electric has secured backing from 59 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include SoftBank, Kia and State Bank of India. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private debt fund focused on growth-stage technology companies
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Founded Year | Domain | Location | |
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An investment platform is provided for diverse sectors and geographies.
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Founded Year | Domain | Location | |
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Venture and private equity investments are managed with global diversification.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ola Electric
Ola Electric has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Etergo. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Electric scooter manufacturer
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Ola Electric
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ola Electric Comparisons
Competitors of Ola Electric
Ola Electric operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ather Energy, Gogoro, Hero Electric, BGauss and River, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories
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| domain | founded_year | HQ Location |
Electric scooters are developed and battery swapping networks are operated.
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| domain | founded_year | HQ Location |
Manufacturer offering electric scooters and mobility solutions
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| domain | founded_year | HQ Location |
Retailer of electric scooters offering test rides, maintenance, and financing
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| domain | founded_year | HQ Location |
Electric scooters are designed and produced for urban mobility.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ola Electric
Frequently Asked Questions about Ola Electric
When was Ola Electric founded?
Ola Electric was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Where is Ola Electric located?
Ola Electric is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Who is the current CEO of Ola Electric?
Bhavish Aggarwal is the current CEO of Ola Electric. They have also founded this company.
Is Ola Electric a funded company?
Ola Electric is a funded company, having raised a total of $1B across 14 funding rounds to date. The company's 1st funding round was a Angel Round of $2.4M, raised on Feb 26, 2019.
How many employees does Ola Electric have?
As of Mar 31, 2024, the latest employee count at Ola Electric is 13,730.
What is the annual revenue of Ola Electric?
Annual revenue of Ola Electric is $481.78M as on Mar 31, 2024.
What does Ola Electric do?
Ola Electric was founded in 2017 and is headquartered in Bengaluru, India. Electric two-wheeled vehicles, including scooters and motorcycles, are developed and produced by the company for personal transportation. Various models are offered to address diverse consumer requirements. Accessories, charging infrastructure, and battery warranty programs are provided as supporting services. Operations focus on the electric vehicle sector within the mobility industry.
Who are the top competitors of Ola Electric?
Ola Electric's top competitors include Ather Energy, BGauss and Hero Electric.
What products or services does Ola Electric offer?
Ola Electric offers Ola S1 Pro+, Ola S1 X+, Ola S1 X, Ola S1 Z, and 3 more products and services.
Is Ola Electric publicly traded?
Yes, Ola Electric is publicly traded on NSE under the ticker symbol OLAELEC.
How many acquisitions has Ola Electric made?
Ola Electric has made 1 acquisition, including Etergo.
Who are Ola Electric's investors?
Ola Electric has 59 investors. Key investors include SoftBank, Kia, State Bank of India, Hyundai Motor Company, and 360 One.
What is Ola Electric's ticker symbol?
The ticker symbol of Ola Electric is OLAELEC on NSE.
What is Ola Electric's valuation?
The valuation of Ola Electric is $5.75B as of Dec 2023.
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