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Ratan Tata Invests in Ola Electric Mobility
Ride-hailing major Ola said Ratan Tata, Chairman Emeritus of Tata Sons, has invested in its EV business – Ola Electric Mobility (OEM). This investment, which is part of OEM’s series A round of funding, is in Tata’s personal capacity, Ola said in a statement. Details of the funding were not disclosed.
“His investment in Ola Electric will bring his deep experience and mentorship to the company’s ambitions to make electric mobility viable at scale,” it added.
Tata is also an early investor in ANI Technologies, Ola’s parent company. He had invested in ANI Technologies in July 2015. In March this year, OEM had announced raising Rs 400 crore in a funding round led by Tiger Global and Matrix India.
The electric vehicle ecosystem is evolving dramatically every day, and I believe Ola Electric will play a key role in its growth and development,” Tata said.
Ola Electric is currently running several pilots involving charging solutions, battery swapping stations, and deploying vehicles across two, three and four-wheeler segments.
Company Overview: –
Ola is India’s largest mobility platform and one of the world’s largest ride-hailing companies, serving 250+ cities across India, Australia, New Zealand, and the UK. The Ola app offers mobility solutions by connecting customers to drivers and a wide range of vehicles across bikes, auto-rickshaws, metered taxis, and cabs, enabling convenience and transparency for hundreds of millions of consumers and over 1.5 million driver-partners.
Ola’s core mobility offering in India is supplemented by its electric-vehicle arm, Ola Electric; India’s largest fleet management business, Ola Fleet Technologies and Ola Skilling, that aims to enable millions of livelihood opportunities for India’s youth. With its acquisition of Ridlr, India’s leading public transportation app and investment in Vogo, a dockless scooter sharing solution, Ola is looking to build mobility for the next billion Indians. Ola also extends its consumer offerings like micro-insurance and credit led payments through Ola Financial Services and a range of owned food brands through India’s largest network of kitchens under its Food-business.
Ola was founded in Dec 2010 by Bhavish Aggarwal and Ankit Bhati with a mission to build mobility for a billion people.