India: Ratan Tata invests in ride-hailing giant Ola’s electric vehicle arm

Ola Electric Mobility, the electric vehicle arm of Indian ride-hailing giant Ola, has raised an undisclosed amount in funding from Ratan Tata, chairman emeritus of Tata Sons, it announced on Monday.

The investment is part of the company’s ongoing series A round of financing. In March, the electric mobility arm announced that it had raised Rs 400 crore from some of the Ola’s existing investors including New York-based hedge fund Tiger Global Management and venture capital firm Matrix Partners India.

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