AFFLUENSE
Founded by Bhavish Aggarwal and Ankit Bhati, Ola is a major Indian ride-sharing and mobility platform. Headquartered in Bengaluru and launched in 2010, Ola disrupted the urban transport landscape by connecting drivers and passengers through a simple mobile application. Over the years, Ola has diversified into electric mobility, vehicle leasing, and fintech services while expanding internationally. With significant funding from top investors, Ola continues to invest in sustainability and innovation, especially through Ola Electric, focusing on EV manufacturing and infrastructure.
| Metric | Detail |
|---|---|
| Founding Year | 2010 |
| Headquarters | Bangalore, India |
| Valuation | $5.4 Billion |
| Revenue FY23 | ₹266.2 Cr |
| Profit/Loss FY23 | -₹772.2 Cr |
| Total Funding | $3.8 Billion |
| Date | Funding Round | Amount | Investor(s) |
|---|---|---|---|
| Dec 2021 | Series J | $500M | Temasek, Warburg Pincus |
| Jul 2021 | Series J | $100M | Falcon Edge Capital |
| Mar 2019 | Series I | $300M | Hyundai, Kia |
The company's revenue grew steadily from ₹51.7 Cr in FY20 to ₹266.2 Cr in FY23, while losses also widened from -₹121 Cr to -₹772.2 Cr, reflecting heavy investments in growth and EV initiatives.
EBITDA margins remained negative and declined from -55.0% to -72.4%, while overall expenses rose significantly to ₹1038.4 Cr in FY23, primarily due to R&D and EV manufacturing infrastructure.
Employee count rose from 387 to 538 between FY20–FY23. This expansion reflects growing operations in EV, software, and manufacturing units.
Ola has initiated trials for autonomous EVs and secured regulatory approval to set up EV hubs in Maharashtra and Tamil Nadu. Strategic alliances are underway with OEMs and global funds.
| Metric | Status |
|---|---|
| Revenue Growth | Up |
| Profitability | Declined |
| Expenses | Increased |
| Employee Count | Growing |
Ola continues to evolve as a tech-first mobility and EV firm with strong investor backing and ambitious plans for electrification. Despite widened losses, its revenue growth and ecosystem development position it for future gains. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.