Ola Electric turns unicorn with $250 mn funding from SoftBank: Report

Ola Electric has raised $250 million from SoftBank in Series B funding round at a valuation of $1 billion, reports said on Tuesday. Ola Electric, which raised $56 million earlier this year, plans to bring 10,000 e-vehicles to the road by the year-end. Its parent group raised $300 million from Hyundai and Kia for electric vehicle solutions earlier this year.