Source: https://daphnislabs.com/blog/temasek-leads-usd140-million-funding-for-ola-electric-valuing-the-company-at-usd5-4-billion Last updated: 2023-09-09T06:50:41Z [All articles](https://daphnislabs.com/blog) # Temasek leads $140 million funding for Ola Electric, valuing the company at $5.4 billion 9 September 2023[Business](https://daphnislabs.com/blog/category/business) By Anshika porwal **Temasek, a sovereign wealth fund of Singapore, has led a $[140 million funding round in Ola Electric](http://reuters.com/) , an electric scooter maker in India. The investment round values Ola Electric at $5.4 billion, making it one of the most valuable electric vehicle companies in India.** **Other investors in the round include SoftBank Vision Fund 2, Edelweiss, and Matrix Partners India.** **Ola Electric said that it will use the funding to expand its manufacturing capacity and launch new products. The company is currently building a factory in Tamil Nadu that is expected to have a capacity of 10 million electric scooters per year.** **Ola Electric is one of the leading electric scooter makers in India. It has sold over 500,000 electric scooters since its launch in 2019.** ![Aerial view of a large industrial building with rooftop solar panels.](https://daphnislabs.com/images/blog/c578c1de371d6be6.png) ## **The investment in Ola Electric is a sign of the growing interest in the electric vehicle market in India. The Indian government is offering subsidies and other incentives to promote the adoption of electric vehicles.** **The investment is also a vote of confidence in Ola Electric’s business model. The company has a strong track record of execution and is well-positioned to capitalize on the growth of the electric vehicle market in India.** ![A red electric scooter parked beside a road.](https://daphnislabs.com/images/blog/7431020fdd806649.png) ## **Here are some of the [key takeaways from the funding round:](https://daphnislabs.com/)** - Temasek’s investment is a major endorsement of Ola Electric’s business and its prospects in the electric vehicle market. - The funding will help Ola Electric expand its manufacturing capacity and launch new products. - The investment is a sign of the growing interest in the electric vehicle market in India. - The investment is a vote of confidence in Ola Electric’s management team and its ability to execute on its plans. - In addition to the funding, Temasek will also be providing Ola Electric with strategic guidance and support. This is a significant development for Ola Electric, as it will help the company to accelerate its growth and expansion plans. ![A covered electric scooter beside a parking shelter.](https://daphnislabs.com/images/blog/c60c6d9672739e04.png) **The investment in Ola Electric is a major milestone for the company and for the electric vehicle market in India. It is a sign of the growing confidence in the potential of electric vehicles and the commitment of investors to support the growth of this sector.** ## Related articles [View all blogs](https://daphnislabs.com/blog) Business ### [SoftBank to Offload Stake in Delhivery: A Strategic Move Amidst Market Volatility](https://daphnislabs.com/blog/softbank-to-offload-stake-in-delhivery-a-strategic-move-amidst-market-volatility) SoftBank Looks to Reduce Exposure to Market Volatility through Delhivery Stake Sale In a significant move, Japanese investment giant SoftBank is reportedly considering selling a stake... Business ### [Adani Electricity Illuminates Mumbai with Renewable Energy on Diwali](https://daphnislabs.com/blog/adani-electricity-illuminates-mumbai-with-renewable-energy-on-diwali) A Beacon of Sustainability Adani Electricity, a leading power utility company in India, marked a historic milestone on Diwali, the festival of lights, by powering Mumbai,... Business ### [Alphabet’s Data Retention Failure Could Land Sundar Pichai in Hot Water](https://daphnislabs.com/blog/alphabet-s-data-retention-failure-could-land-sundar-pichai-in-hot-water) In a recent Play Store trial, Alphabet CEO Sundar Pichai acknowledged that some materials were not retained as required by the trial agreement. This could have...