https://finance.yahoo.com/news/temasek-sbi-pour-384-million-104809440.html
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 $5.4 billion, according to a person familiar with the matter.
Ola Electric and Ola, both of which have the same comms team, didn't respond to a request for comment.
Singapore's sovereign wealth fund Temasek led the funding round, whose name Ola Electric didn't disclose, and Indian government-backed lender State Bank of India bankrolled the debt, the startup said in a statement.
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Ola Electric, which lost more than $130 million in the financial year that ended in March on a revenue of about $330 million, said it would deploy the funds to expand its EV business and set up what it said would be "India's first lithium-ion cell manufacturing facility" in Krishnagiri in the Southern state of Tamil Nadu.
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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 $5.4 billion, according to a person familiar with the matter.
Ola Electric and Ola, both of which have the same comms team, didn't respond to a request for comment.
Singapore's sovereign wealth fund Temasek led the funding round, whose name Ola Electric didn't disclose, and Indian government-backed lender State Bank of India bankrolled the debt, the startup said in a statement.
....
Ola Electric, which lost more than $130 million in the financial year that ended in March on a revenue of about $330 million, said it would deploy the funds to expand its EV business and set up what it said would be "India's first lithium-ion cell manufacturing facility" in Krishnagiri in the Southern state of Tamil Nadu.
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