Ola Electric Mobility extends series A round

May 8, 2019 • Jack Hammond

Ola's electric vehicle-focused spinoff has added an undisclosed amount to the $56m in series A funding the company received in March.

Ola Electric Mobility, the India-based electric vehicle (EV)-focused spinout of ride hailing service Ola, has extended its series A round after securing an undisclosed sized investment from Ratan Tata, chairman of conglomerate Tata Group, YourStory reported on Monday.

Hedge fund manager Tiger Global and venture capital firm Matrix Partners India both took part in the round’s $56m first tranche in March 2019, alongside unnamed additional investors.

The spinoff was founded last month and will concentrate on the overall EV…

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