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

  • February 27, 2014
    Sixth round of TIGER funding announced
    The US Department of Transportation has made US$600 million of funding available to fund transportation projects across the country under a sixth round of its highly successful Transportation Investment Generating Economic Recovery (TIGER) competitive grant program. The TIGER 2014 grant program will place an emphasis on projects that support reliable, safe and affordable transportation options that improve connections for both urban and rural communities, making it easier for their residents to reach wor
    Read More
  • February 2, 2012
    Governments must look beyond short-term spending of public funds
    Phil Pettitt, Chief Executive of innovITS, the UK's ITS Centre of Excellence, argues that governments need to look beyond the short-term when looking to pump-prime economic recovery with public funds. It seems, in the current economic climate, that a 'good' day is one in which no company is announcing job cuts or going into administration. Consumer demand is down and businesses are retrenching, cutting costs and fretting over the consequences of shrinking opportunities and order books. It has not been this
    Read More
  • March 16, 2017
    Canada looks to HOT lanes to tackle congestion
    David Crawford sees an evidence-based approach to HOT lane conversions. Canada’s first high occupancy toll (HOT) lanes opened on 16 September 2016 as a pilot on a 16.5km section of existing high occupancy vehicle (HOV) lanes running in both directions along Toronto’s Queen Elizabeth Way. Promised in two recent budgets
    Read More
  • October 7, 2019
    Driven demos AVs operating ‘safely’ in London
    The Driven Consortium has completed a week-long demonstration which it says shows that autonomous vehicles (AVs) can operate safely in London - with a safety driver. Driven - a £13.6 million initiative supported by the UK government - carried out the demo around Queen Elizabeth Olympic Park in Stratford in the east of the city. Driven has focused on completing fully-autonomous routes within the UK capital and the city of Oxford using Oxbotica’s autonomous software. Consortium members Moninet and Axa XL p
    Read More

Highlighted Content