Indian two-wheeler manufacturer Ola Electric is getting a major financial boost ahead of its much-anticipated initial public offering (IPO).

A $140 million funding round led by Singapore's renowned investment firm, Temasek will peg the Softbank-backed company at a staggering valuation of around $5.5 billion. Temasek is contributing around $90 million to this funding round, as Ola Electric looks to reach its funding target of up to $250 million.

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