India’s startup and mobility ecosystem witnessed a fresh wave of capital deployment and fundraising activity as Ola Electric, Rapido, and Scripbox announced major funding moves aimed at accelerating growth, expanding operations, and strengthening market leadership amid intensifying competition across electric mobility, ride-hailing, and digital wealth management.
Key Highlights
- Ola Electric approved Rs 2,000 crore investment to accelerate EV and battery manufacturing expansion.
- Rapido raised $240 million, hitting $3 billion valuation amid rising mobility competition.
- Scripbox plans Rs 170 crore raise to fuel acquisition-led wealthtech growth expansion.
The recent developments reflect the continued investor's faith in India's fast-growing tech industries, even as the macroeconomic climate grows more uncertain, operating costs are on the rise, and market dynamics are changing.
Ola Electric Approves Rs 2,000 Crore Capital Infusion
Bhavish Aggarwal-led Ola Electric has approved an investment of Rs 2,000 crore into its wholly owned subsidiaries to strengthen its electric vehicle manufacturing and battery cell ambitions.
According to a stock exchange filing, the board approved:
- Rs 1,500 crore infusion into Ola Electric Technologies Pvt Ltd (OET)
- Rs 500 crore infusion into Ola Cell Technologies Pvt Ltd (OCT)
The investments will be made through compulsorily convertible preference shares issued at par and will support operational expansion and long-term business requirements.
OET is responsible for the operations of Ola's EV manufacturing and services throughout the electric mobility value chain, while OCT is dedicated to advanced battery and cell manufacturing, assembly, processing, repair and distribution.
The funding follows Ola Electric's recent efforts to narrow down its focus on localization and battery innovations, and the company is gearing up for the Indian electric two-wheeler market with increased competition.
Rapido Raises $240 Million, Hits $3 Billion Valuation
Bengaluru-based ride-hailing unicorn Rapido raised $240 million in fresh primary funding led by Prosus, with participation from WestBridge Capital, Accel, and other investors. The raise forms part of a larger $730 million primary and secondary transaction, valuing Rapido at $3 billion post-money.
The company plans to deploy fresh capital toward expanding into new and underserved markets, scaling captain onboarding, strengthening technology infrastructure, hiring across product and engineering teams and expanding deeper into Tier-II and Tier-III cities
Founded in 2015, Rapido now operates in 400+ cities, emerging as one of India’s largest mobility platforms spanning bike taxis, autos, and cabs.
Scripbox Plans Rs 170 Crore Raise
Wealthtech platform Scripbox is preparing to raise up to Rs 170 crore through equity and debt, supporting acquisitions and IPO readiness.
Regulatory filings show approval for:
- Rs 60 crore via equity, preference shares, or convertible instruments
- Rs 110 crore debt facilities from banks and NBFCs
The capital will fund accelerated growth and finance the acquisition of a Delhi-based independent financial advisor’s mutual fund distribution business, including its AMFI Registration Number and client portfolio.
Founded in 2012, Scripbox offers retail investment solutions across Mutual funds, Fixed deposits, US stocks, ETFs, NPS, and Financial planning services.
Backed by Accel, LetsVenture, and DMI, Scripbox has raised over $55 million to date. The move comes amid strong momentum in India’s wealthtech sector, which attracted $634 million across 51 deals during 2024–25.
