Page 6 - Ola

Large representation of Indian data differentiates us: Krutrim's Ravi Jain

Krutrim's head of strategy Ravi Jain said what differentiates the AI platform from others is that it uses Indian data including different languages to train its models

Uber way behind Ola in India: Bhavish Aggarwal responds to Khosrowshahi

Uber chief had said Ola was foraying into other areas but Uber was focused on ride-sharing business

Bhavish Aggarwal's Krutrim rolls out OpenAI's ChatGPT rival in beta mode

During the announcement of the fundraise, Aggarwal had said, "India has to build its own AI, and at Krutrim we are fully committed to building the country's first complete AI computing stack"

Ola Electric cuts its scooter prices by up to Rs 25,000. Details here

Ola Electric's chairman and managing director Bhavish Aggarwal, in a recent tweet, announced a significant price reduction on their range of e-scooters

Ola sets up cab zone at Chennai int'l airport for airline passengers

Ride-hailing platform Ola Mobility has set up Ola Zone at the Chennai International Airport here, aimed at serving the passengers who need a ride for their local journeys, the company said on Wednesday. The launch of service at the airport comes in the backdrop of the memorandum of understanding signed between the Airports Authority of India and OLA Cabs with an intent to provide and ensure the presence of multiple facilities of ground transportation for the convenience of passengers traveling through the airports. The Ola Zone, similar to the cab services currently available at the airport, allows customers to book a ride at the Ola Zone to take up their local journey, instead of availing the services through the Ola mobile application. Booking assistance would be provided at the dedicated kiosks for the travelers who would receive all charges in a single bill, while the drivers would be able to benefit from a cashless checkout system, eliminating payments at entry and exits of the

Vanguard slashes Ola's valuation by another 29% to $1.88 billion

Last year in February, Vanguard marked down the valuation of ANI Technologies by about 34 per cent to $4.8 billion from $7.3 billion

Vanguard cuts valuation of Ola Cabs by about 30% at about $1.88 billion

Ola Cabs was co-founded by Bhavish Aggarwal in 2010 and found immediate backing from marquee investors such as Softbank and Tiger Global, besides Vanguard

Uber, Ola will have to fall in line as Karnataka govt fixes fare for taxis

City taxis and those operating through app-based aggregators like Uber and Ola will now have to follow the new fare structure announced by the Karnataka Transport Department. With this new order released by the department on Saturday, fares for app-based cab aggregators as well as city taxis would be uniform and the revised fares would be applicable across the state with immediate effect. Prior to this, the fares were different for the two categories of taxis. According to the new fare structure, cabs have been categorised into three classes based on the cost of the vehicle. For vehicles whose purchase cost is Rs 10 lakh or below, the minimum fare has been fixed at Rs 100 for up to four km with a charge of Rs 24 for every additional km. For those costing between Rs 10 lakh and Rs 15 lakh, the minimum fare is Rs 115, and per km cost Rs 28. For those costing above 15 lakh, minimum fare is set at Rs 130 with Rs 32 charged for each additional kilometre. The order clearly states that no

Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn

The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric

Ola founder Bhavish's Krutrim becomes first $1 billion Indian AI startup

It becomes the first Indian AI startup to gain a billion-dollar valuation, a mere month after debuting a large language model, the firm said in a blog post

Ola FY23 results: Net loss narrows to Rs 772 cr, revenue from ops rises 48%

ANI Technologies, which operates under the Ola brand, on Thursday said its consolidated net loss narrowed to Rs 772.25 crore in the fiscal 2023, according to a regulatory filing. The company posted a consolidated loss of Rs 1,522.33 crore in the financial year (FY) 2022. The consolidated revenue from operations increased by about 48 per cent to Rs 2,481.35 crore in FY23 from Rs 1,679.54 crore in FY22. On a standalone basis, ANI Technologies, which comprises a ride-hailing business, reported a narrowing of loss to Rs 1,082.56 crore in FY23 compared to a loss of Rs 3,082.42 crore in FY22. The revenue from operations of ANI Technologies on a standalone basis increased by about 58 per cent to Rs 2,134.94 crore in FY23 from Rs 1,350.03 crore in FY22. Ola Mobility business in India posted an operational profit of Rs 250 crore in FY23 from EBIDTA ( earnings before interest, taxes, depreciation, and amortisation) loss of Rs 66 crore. At the group level, Ola reported a narrowing of operat

Ola Electric gets domestic value addition certificate under auto PLI scheme

Ola Electric on Wednesday said it has received domestic value addition certificate under the production linked incentive scheme for the automobile and auto component industry. The company successfully met the domestic value addition (DVA) criteria of 50 per cent among others as mandated by the Union Ministry of Heavy Industries, under the Production Linked Incentive (PLI) scheme for automobile and auto component industry, Ola Electric said in a statement. The certification has been granted by the Automotive Research Association of India (ARAI) after testing of the product and checks on the localisation standards of the components, it added. The company claimed it has become the first Indian two-wheelers company to receive the DVA certificate under the PLI scheme. "The PLI certification is a testament to our vertically integrated manufacturing capabilities and a significant milestone in our quest to accelerate India's journey towards clean mobility," a spokesperson of Ola Electric .

Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23

The firm also has cut down its losses by nearly 50 per cent to Rs 772 crore during FY23 compared to Rs 1,522 crore in FY22, according to media platform Entrackr

2024 expected to be year of IPO boom led by new-age firms, say experts

Experts said a combination of various factors including rise of tech firms, investor confidence, a resilient economy and a supportive regulatory environment are propelling growth of India's IPO market

'India's own AI': Ola's Bhavish Aggarwal joins the race with Krutrim

Krutrim has joined the increasingly-competitive AI race dominated by players such as Google, Microsoft and OpenAI

Ola, Uber drivers go on strike demanding better remuneration, bike taxi ban

A large section of cab drivers of Ola and Uber went on a strike on Monday demanding fare regulation, a ban on bike taxi services that they say are eating up their revenue, and stringent action on certain toll booths functioning beyond their contract period. The drivers staged an agitation here urging the state government to immediately intervene and regulate the app-based cab aggregators and to also resolve the issue of high commission charged by the aggregators from them. The All India Road Transport Workers Federation and the Tamil Nadu Urimai Kural Driver Trade Union, which announced the strike has demanded a ban on bike taxi services. The drivers have called for a massive protest in the city on October 18 to highlight their demands. "With the interior areas of Perungudi still lacking connectivity, I usually book a cab to reach my office. Due to the strike I had to depend on an auto, after an agonising wait" says Mahesh, a commuter. P Sridhar of Madipakkam, whose father was ...

Ola launches all-electric on-demand parcel delivery service in Bengaluru

The Ola Parcel service will be available across Bengaluru at prices which will be as low as Rs 25 for 5 km, Rs 50 for 10 km, Rs 75 for 15 km, and Rs 100 for 20 km

Ola Electric eyes IPO filing by end-October in expedited listing plan

Backed by investors including Singapore's Temasek and Japan's SoftBank, Ola Electric was valued at $5.4 billion in a recent fund raising

Ola's Bhavish has thrown his might behind e-motorcycles: How serious is he?

Not surprisingly, Aggarwal's rivals are less than charitable towards him and, though they won't come on record while saying this, dismiss Aggarwal's e-motorcycles as "another of his teaser campaigns"

Reliance General Insurance, OLA Electric to enhance 2W customer experience

Under this alliance, both companies will aim to transform the total ownership of OLA customers