Z47 backed Ola Electric goes public

Ola Electric listed on the Indian stock exchange, raising over ₹6,000 crores in its IPO, marking a significant milestone in its journey as a leader in India’s electric vehicle sector. As privileged early partners, we at Z47 (fka Matrix Partners India) extend our heartfelt congratulations to Bhavish Aggarwal, the Ola Electric team and their families for this remarkable achievement. We support the company's vision to transform the future of electric mobility.

Less than four years ago, Ola Electric announced its plan to create the world’s largest 2-wheeler scooter factory. In the short period since then, with over 1.5 million electric vehicles sold to date, Ola Electric has established itself as the most innovative and successful electric vehicles player. Their bikes have resonated with consumers, offering cutting-edge technology, exceptional performance, customer experience and after-sales service.

With this IPO, a new journey begins, empowering Ola Electric to further expand operations. Very few companies and founders have made this large an impact in this short period of time. This underscores the dedication and hard work of Bhavish and his team, and their vision to transform the EV manufacturing and mobility landscape in India and beyond. India has the potential to be the EV hub for the world with the Ola Electric ecosystem at the heart of this transformation.

Bhavish Aggarwal, Founder, Chairman & Managing Director, Ola Electric shared, "Our partnership with Z47 spans over a decade, starting from our early days in Ola Cabs to now Ola Electric going public. What I appreciate the most is their conviction in the entrepreneurs they support, giving them the freedom to explore new avenues and make bold decisions. We are fortunate to have found invaluable partners in Z47 who truly stand with us, and our mission to make India the global EV hub."

Avnish Bajaj, Founder & Managing Director, Z47 (fka Matrix Partners India) said, "We are privileged and honored to be part of the Ola Electric journey from inception. Bhavish is an inspiration for all of us and we wish him and the Ola Electric team Godspeed ahead.”

Congratulations again to Bhavish, the Ola team and their families on this momentous occasion!