OLA Cabs

PhonePe has a formidable market presence in the Indian digital payments space. The app leverages the Unified Payments Interface (UPI) like its other peers

Artificial Intelligence (AI) is a massive technology tool for increasing productivity and India should take a lead in adopting such technologies, Bhavish Aggarwal, the co-founder and Chief Executive Officer of Ola Cabs, said on Saturday. Speaking at the ABP Network's Idea of India Summit here, Aggarwal also discounted the notion that embracing such technology would result in job losses. Technology trends like AI are so disruptive. While one can think that it (the adoption of AI) threatens jobs, "I see it as a massive technology tool for increasing productivity", he said. "And we in India, as an economy and as stakeholders of the economy, should all adopt AI with open arms," Aggarwal said. He emphasised that the use of this technology could enhance productivity by 10 times, he said, "We should be the first adopter of AI and become the most productive in the world." It will have a significant impact on economic growth, he asserted. Noting that software development will be the fir

Ola Fleet Technologies on Tuesday said it has partnered with Dbest Cars India to dispose of its used commercial fleet vehicles in a deal worth over Rs 125 crore. As the largest radio taxi company in India, Ola Fleet Technologies, is undertaking the process to dispose of over 5,000 used commercial cars through the services of Dbest Cars India. "We are in process of disposing of our existing fleet which is now obsolete and for the same we have selected Dbest Cars to be our partner," Ola Director (Risks & Brand Protection) Gulshan Rao said in a statement. Introduction of regulatory changes such as BS-VI emission norms and scrappage policies have created an ecosystem for utilisation of and demand for used cars in India. With increasing motorisation rate, lower vehicle replacement cycle and increasing penetration of used car financing is expected to grow the Indian used car market at a CAGR (Compound Annual Growth Rate) of 15 per cent between FY21 and FY26 to touch about 80 lakh ...

The company has handed pink slips to 200 people across tech, engineering and product teams as a part of its "restructuring exercise"

Industry sources say the service was not proving any value to the ride-hailing company

Experts say Karnataka authority's ruling would not apply to Uber, Ola and other cab aggregators

The company sells three models of Ola electric scooters, Ola S1, Ola S1 Pro and Ola S1 Air

The yardstick at which the firm would like to be judged is the impact it is creating, said Ola CEO

Whether Ola Electric succeeds or not, Aggarwal's admirers seem to agree that he has turbo-charged the EV market, pulling in millions of investment dollars

Action after complaints of overcharging

Overall, the company at a group level has a workforce of around 10,000 people

The Covid-19 pandemic has hurt the transportation industry. But Ola said it is one of the most profitable ride-hailing companies in the world with a strong balance sheet

On August 15, two companies - Mahindra & Mahindra and Ola Electric are set to take the wraps off their individual e-car strategies as they seek to stake their claim in India's nascent e-car market

ANI Technologies Pte Ltd is scaling back its growth aspirations in loss-making segments to reduce capital requirements

Ola founder and CEO Bhavish Aggarwal has rubbished reports in a section of media about the company being in talks with Uber for a possible merger

Ola Financial Services was found to be non-compliant with the directions issued by RBI on KYC requirements

Layoffs may take place across Ola departments amid challenging funding environment and delay in listing plans

Ola is in talks to raise over USD 1 billion in funding through a mix of equity and debt over the next few months as the ride-hailing platform prepares for hitting the IPO route next year, according to sources. The company has recently raised over Rs 1,049 crore (about USD 139 million) from Edelweiss and others at a valuation of over USD 7 billion. According to sources, Ola is in discussions to raise a pre-IPO round of over USD 1 billion at a valuation of USD 7.5 billion. The fund raise, which is expected to be done in multiple tranches, would be a combination of equity and debt, they added. Ola did not respond to emailed queries. The USD 139 million equity funding raised is part of this larger round, they said adding that the proceeds will be utilised for key growth areas in the new mobility ecosystem. Ola is also looking at raising USD 500 million via a Term Loan (TLB) from global institutional investors. It had recently received a B-rating from S&P Global and a B3 credit rating

Chowdhury had joined Ola from Nuvoco Vistas Corp Ltd

The Bangalore-based startup could seek a valuation of more than $8 billion in the IPO and could lodge a filing as soon as October, people familiar with the matter said