Aya Lin · · 1 min readIn brief: Ola Electric becomes India’s newest unicorn with $250m SoftBank funding
- Ola Electric, Ola’s electric vehicle unit, has raised US$250 million from SoftBank, pushing it into unicorn status, The Business Standard reported.
- According to regulatory documents, Ola Electric issued “4,326 fully and compulsorily convertible series B preference shares” as part of the deal.
- The electric vehicle company, which is currently running pilots involving charging solutions and battery swapping stations, recently raised about US$57.7 million in March.
Editing by Dante Gagelonia
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