Ola Electric Mobility turns unicorn with $250 million funding from SoftBank

Ola Electric Mobility has raised the amount through SoftBank’s Cayman Islands-based SB Topaz (Cayman) Limited allotting latter 4,326 Series B compulsory convertible preference shares. Cab-hailing giant Ola’s electric vehicle arm Ola Electric Mobility has raised $250 million (Rs 1,725 crore) in its Series B round of funding from SoftBank valuing the company at $1 billion. The company has raised the amount through SoftBank’s Cayman Islands-based SB Topaz (Cayman) Limited allotting latter 4,326 Series B compulsory convertible preference shares, as per regulatory filings sourced from business signals platform Paper.vc.