Former Vodafone Group CEO Arun Sarin invests in Ola Electric

• Arun Sarin, former Vodafone Group Plc CEO, has invested an undisclosed amount in Ola Electric.
• Sarin has been on the board of Ola as an investor and director for long now.
• Earlier in May, Ola Electric had also raised funding from Ratan Tata.

Arun Sarin, former Vodafone Group PLC CEO has invested in Indian unicorn Ola's subsidiary company Ola Electric. With the investment, he joins the board of Ola Electric as an independent director.

Sarin has been on the board of Ola as an investor and director for long now. As Ola turned to electric mobility, he has invested again in the Series A round being raised by Ola Electric.

Recharging India’s EV mission

Ola Electric Mobility develops solutions to make electric mobility viable at scale. The subsidiary company was formed when Ola initiated its electric mobility program in Nagpur in partnership with Mahindra.

“Electric Mobility at scale is the need of the hour and can help us solve some of the world’s most complex problems like climate change, pollution, over-dependence on non-renewables amongst others. Ola Electric is pioneering the change by building an ecosystem that can help catalyze the adoption of electric vehicles globally,” Sarin said.

The former Vodafone Group CEO and telecommunications industry expert is also on the board of companies like Accenture and Cisco amongst others.

Bhavish Aggarwal, Co-founder & CEO, Ola said, “Arun’s experience of building global businesses and his deep understanding of emerging markets and opportunities will be very valuable for us at Ola Electric in executing our mission. We look forward to his continued guidance and mentorship.”

In May, Ola Electric raised funding from Ratan Tata. In March, it had raised ₹400 crore from Ola’s existing and early investors - Tiger Global and Matrix India.

Both Tata and Sarin are existing investors in Ola.

The electric vehicle sector is gaining interest in India with large automakers like Maruti Suzuki, Mahindra and Mahindra and Tata Motors marking their entry into the segment.

See Also:
Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount
Ola gets fresh funds to take on Mahindra’s Glyd – where’s Uber?