Advertisements Ola Mobility, led by Bhavish Aggarwal, is planning to diversify its ecommerce services with the help of the Open Network for Digital Commerce (ONDC). The company aims to allow users to buy groceries, fashion and apparel through its app…. Read More ›
Advertisements Wide electrification of Ola Cabs’ vehicles and offering more premium services will help the company grow, according to the new CEO, Hemant Bakshi. The company became profitable in the fiscal year ending on 31 March 2023. Company’s ride-hailing business… Read More ›
Advertisements Ola Electric, an e-scooter manufacturer, has secured Rs 3,200 crore of funding. The fresh investment comes from a group of investors led by Temasek and the State Bank of India, with the purpose of fuelling the expansion of Ola… Read More ›
Krutrim SI Designs, an AI company founded by Ola Co-founder Bhavish Aggarwal, has raised $24m in debt funding from Matrix Partners. The company will focus on developing silicon chips and AI models for the Indian market. Aggarwal also plans to acquire multiple firms in the silicon-AI field, with part of the funding coming from his own contribution. Meanwhile, the global silicon chip market is expected to reach $15.2bn by 2028.
Advertisements Ride-sharing company Ola has restarted its bike taxi service in Bengaluru amidst the ongoing standoff between taxi companies and the Karnataka government in court. The company’s founder, Bhavish Aggarwal, said on X, “Restarting Ola Bike in Bengaluru today. This… Read More ›
Advertisements Ola Electric has signed an agreement to raise USD 140 million from existing investors, including Temasek Holdings, according to media reports. An agreement was signed on Monday, and the funds will be deposited in the company’s account within the… Read More ›
Advertisements Ola’s parent company ANI Technologies is likely to appoint Hemant Bakshi, Executive Vice President of Marketplace and Chairman of Unilever, Indonesia, as its next chief executive officer, according to media reports. Ola’s founder, Bhavish Aggarwal, likely to announce the… Read More ›
Advertisements Bhavish Aggarwal-led Ola Electric’s net loss almost quadrupled to Rs 784.1 crore in the financial year 2021-22 (FY22) from Rs 199.2 crore in FY21. The startup’s operating revenue stood at Rs 373.4 crore in FY22. The startup primarily earns… Read More ›
Advertisements India’s largest e-scooter maker Ola Electric recorded an operating loss of USD 136 million on revenue of USD 335 million in the last financial year which concluded in March, three sources told Reuters, missing its publicly disclosed revenue goal…. Read More ›
Advertisements Ola Electric Mobility is on track to go public sooner than its founder anticipated, showing the Indian startup’s rapid development since it began selling electric scooters in late 2021. “I thought it would take four to six years of revenue to… Read More ›
