From TechCrunch
By Manish Singh
December 22, 2023
India’s Ola Electric seeks to raise $661.8 million by selling new shares in an initial public offering, the six-year-old Bengaluru-headquartered startup said in draft papers filed with the country’s market regulator on Friday. The paperwork for the initial public offering follows Ola Electric raising $384 million from Temasek and Indian government-backed lender State Bank of India […]
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EV startup Ather seeks to raise $370 million in India IPO
Indian electric scooter manufacturer Ather Energy plans to raise about $370 million in its initial public offering, according to its draft prospectus filed on Monday (PDF), as the startup seeks to capitalize on growing demand for electric vehicles in the world’s third-largest auto market. The Bengaluru-based startup, which competes with recently listed rival Ola Electric, is targeting a valuation of $1.5 billion to $2 billion, people familiar with the matter told TechCrunch. The company said it
Sep 9, 2024
Ola’s Aggarwal sets eyes on AI, semiconductor design
Indian entrepreneur Bhavish Aggarwal, co-founder of ride-hailing firm Ola and electric vehicle startup Ola Electric, is venturing into fresh terrain as he navigates his businesses towards initial public offerings. He has set up an AI startup that seeks to develop a large language model and is currently scouting two U.S.-headquartered AI startups for a potential […]
Aug 1, 2023
Accel could raise billions for India, but it’s sticking to $650 million
Accel has maintained its India fund size at $650 million for its eighth vehicle, even as other venture firms in the region are racing to raise increasingly larger pools of capital. The firm had ample opportunity to raise “multi-billion dollars,” said Shekhar Kirani, partner at Accel, in an interview with TechCrunch. But unlike peers who have supersized their funds, Accel is holding steady based on a calculated analysis of India’s venture opportunity. Peak XV has amassed $2.5 billion in its newe
Jan 5, 2025
Temasek and SBI pour $384 million into India’s Ola Electric
Ola Electric said on Thursday that it has raised $384.43 million in a funding round, which included about $240 million in debt. The new round values the Bengaluru-headquartered electric vehicle startup — which supposedly has no ongoing relationship with the ride-hailing startup Ola but continues to share resources, much to many investors’ chagrin –at about […]
Oct 26, 2023