Ola Electric Mobility raises £42m in funding round

Ola Electric Mobility, a company backed by Indian ride-hailing platform Ola, has raised 4 billion rupees (£42m) in an initial funding round. Ola hopes to bring one million electric vehicles (EVs) to India by 2022 and is currently running pilots to deploy EVs and charging solutions for electric two-wheeler and three-wheeler services. Anand Shah, head of Ola Electric Mobility, says electric mobility requires chargers which can provide a reliable replacement for the petrol pump. “By making electric easy
March 6, 2019 Read time: 1 min

Ola Electric Mobility, a company backed by Indian ride-hailing platform Ola, has raised 4 billion rupees (£42m) in an initial funding round.

Ola hopes to bring one million electric vehicles (EVs) to India by 2022 and is currently running pilots to deploy EVs and charging solutions for electric two-wheeler and three-wheeler services.

Anand Shah, head of Ola Electric Mobility, says electric mobility requires chargers which can provide a reliable replacement for the petrol pump.

“By making electric easy for commercial vehicles that deliver a disproportionate share of kilometres travelled, we can jumpstart the electric vehicle revolution,” Shah adds.

The funding round was led by investment firm Tiger Global and Matrix India, an early stage investor in start-ups.

Related Content

  • August 14, 2018
    BM Mobility launches electric bike-sharing service in Malaysia
    BM Mobility has launched its Revgo electric bike-sharing service at the University of Malaya in Malaysia to provide an environmentally friendly mode of transport. A report by The Straits Times says the company will deploy 170 bikes which can travel up to 20km an hour and reach 50km on a full charge. RevGo bikes were initially deployed at the University in July, which according to BM Mobility, now has around 1,000 registered members. The campus has eight parking sites and two charging stations which can
    Read More
  • May 16, 2019
    Neuron EV launches autonomous shuttle
    Neuron EV has launched a smart transportation shuttle called Hub which it says integrates renewable energy, telecommunications and cloud computing for ease of mobility. The firm claims Hub can operate as an autonomous ride-sharing service or as an emergency vehicle. For ride-sharing, the six-seated electric vehicle (EV) can run autonomously within a five-mile radius. The input or scan of a blockchain ID allows a Hub service to operate without reservations while traffic detection software directs the
    Read More
  • January 10, 2017
    Toll roads important to Trump’s infrastructure plan
    According to The Hill, US toll roads may surge under a US$1 trillion infrastructure proposal being floated by Donald Trump. The president elect’s idea for rebuilding the nation’s roads and bridges relies on private companies instead of the federal government to back transportation projects. Experts believe this means investors will be attracted to projects that can recoup their investment costs using some sort of revenue stream, such as through tolls or user fees. “If he moves forward with an infrastr
    Read More
  • April 16, 2018
    Auckland reduces airport journey times
    Getting from the centre of Auckland to the city’s airport used to be fraught with unwanted stress for passengers – but a new system combining radar, Bluetooth and Wi-Fi is smoothing things over. Andrew Stone investigates. Struggling to cope with steady growth in passenger numbers and the costly traffic congestion which that can entail, New Zealand’s Auckland International Airport has deployed an innovative system that is smoothing traffic and passenger flows. The same system is also offering new, data-led
    Read More

Highlighted Content