IPO-bound Ola Electric has raised Rs 410 crore or approximately $50 million through non-convertible debentures from EvolutionX Debt Capital. The debt comes as part of Ola Electric's broader strategy to strengthen its position in the electric vehicle (EV) sector. EvolutionX is a debt financing platform established by DBS and Temasek and has invested in firms like Lendingkart and Mensa Brands.