by admin | May 25, 2021 | Business, Investing, Medium Enterprise
Bengaluru : Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early investors, including Tiger Global and Matrix India, to fund its electric mobility business.
“The Rs 400 crore fund from the first round of investment will be used for rolling out one million electric vehicles by 2022 as part of our ‘Mission: Electric’,” said the city-based app-enabling firm in a statement here.
The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra.
“We are running several pilots to deploy electric vehicles and charging solutions, including battery swapping stations, electric two-wheeler and three-wheeler services,” said the company in the statement.
Ola executives Anand Shah and Ankit Jain will drive the new business to make electric mobility viable at scale, enabling more clean kilometres on roads across the country.
“Our mission is to enable sustainable mobility for everyone. India can leapfrog problems of pollution and energy security by moving to electric mobility, create hundreds of jobs and economic opportunity,” said Ola Co-Founder and Chief Executive Bhavish Aggarwal in the statement.
—IANS
by admin | May 25, 2021 | Banking, Business, Corporate, Corporate Buzz, Economy, Large Enterprise, Markets, News
New Delhi : Leading cab aggregator Ola and ICICI Bank on Tuesday signed a MoU to bring forth a range of integrated offers for their customers and driver partners.
“This alliance will provide increased convenience to customers on both the platforms as well as hundreds of thousands of driver partners,” Bhavish Aggarwal, Co-Founder and CEO of Ola, said in a statement.
Through this alliance, both brands will bring together their respective technology platforms to offer Ola booking facility on ICICI Bank’s mobile banking platforms.
It will enable ICICI Bank customers to seamlessly book an Ola and pay the fare by using the bank’s mobile banking applications; ‘iMobile’ and ‘Pockets’.
“From API (application program interface) integration, to launching new products and solutions tailored to suit our common pool of millions of customers, the two brands will capitalise on each other’s strengths to deliver superior experience and enable smart, sustainable and inclusive mobility for India,” added Aggarwal.
It will also give access to instant small ticket digital credit. This facility will help Ola customers to get small ticket digital credit instantaneously from ICICI Bank, on the Ola Platform.
The digital credit will be available on the basis of a real-time credit assessment algorithm created by the bank.
ICICI Bank will offer a ‘Pay Direct’ card for Ola’s driver partners where Ola’s auto and cab driver partners will be able to get their daily earnings directly into their ‘Pay Direct’ card accounts.
Additionally, drivers can also swipe this card at merchant outlets for their purchases.
“We are delighted to partner with Ola to introduce a range of new integrated offerings that will deliver unparalleled convenience for customers as well as Ola’s driver partners,” added Anup Bagchi, Executive Director, ICICI Bank.
—IANS
by admin | May 25, 2021 | Business
Bengaluru,:(IANS) Taxi aggregator Ola announce it has publicly released its Application Programme Interface (API) to major mobile applications and individual developers to integrate Ola’s offerings onto their platforms.
“The public release of our API to developers is a giant leap in collaborative technology. With this step, we would open up access to many more millions of users from our partners,” said Ola co-founder and CTO Ankit Bhati on Saturday.
API is a set of instructions which enables interaction between two platforms. With this collaboration, Ola’s partner brands Samsung, InMobi, MakeMyTrip, Helpchat and others can offer Ola’s services right from their apps.
“For example, with the API integration, MakeMyTrip offers a customer to book an Ola cab to an airport after he books a flight right on MakeMyTrip app. The customer can book the cab right from MakeMyTrip app without the need to necessarily open the Ola app,” said Ola’s director, marketing communications, Anand Subramanian.
The new technology collaboration allows customers to access ride availability, estimation, booking and tracking and also empowering partner apps to complete the service experience to users with Ola, he added.
Already, many other leading mobile apps and technology companies are working on syncing their apps with Ola’s API. The integration will also be expanded to include Ola Money in the future.
Founded by IIT – Bombay alumni Bhavish Aggarwal and Ankit Bhati in January, 2011, Ola operates in over 100 Indian cities.