Top deals of Oct 20-26: Ola Electric raises $144.43 million

Ola Electric has raised $144.43 million in funding from sovereign wealth fund Temasek, according to PrivateCircle Research, a private market intelligence platform. It plans to utilise the funds for expanding its electric vehicle (EV) business.

The EV maker also intends to establish what it calls India’s first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu.

Fashion brand The Indian Garage Co received funding of $18.60 million from TMRW, owned by the Aditya Birla Group. The Indian Garage Co, which makes casual and other apparel, will use the funds to expand sales channels, including D2C (direct to consumer), and enter new categories. It will also open physical stores.

Footwear brand Inc.5 Shoes Pvt Ltd raised $10 million from Carpediem Capital, Param Capital, and P3 Venture Fund. With its maiden institutional funding, Inc.5 plans to triple its footprint in India, with a focus on tier II and select tier III cities. It will also invest in store expansion, enhancing its inventory management technology and expanding categories.

Green Enabled It Solutions Pvt Ltd, which runs SaaS and AI-based reverse supply chain management platform provider Blubirch, has raised $6.37 million in Series A funding from Cornerstone Venture Partners Fund and Capital 2B. Blubirch will use the funds to expedite its growth and expand its presence in diverse retailer marketplaces and original equipment manufacturers’ (OEMs) ecosystems, says a release.

Indian Angel Network, Sanjiv Bajaj, Nitin Zamre, KRS Jamwal, and Jaideep Mehta came together to invest $3 million in space-tech startup Manastu Space's Pre Series A funding round. Manastu will use the funds to develop its green propulsion system for satellites, ranging from 100-500 kg, and scale its business.