Ola Electric raises $200 million

Bangalore-based electric mobility start-up Ola Electric has raised $200 million in a new financing round at a $5 billion valuation – up from $3 billion the company was valued in September last year. The latest deal comes as the start-up struggles to deliver its first electric scooter and questions about its work culture have been raised.

Ola Electric, the spin-off of ride-hailing giant Ola, raised almost $874 to date since its foundation in 2017.