Discover 5 articles related to Ola
Bhavish Aggarwal’s Krutrim AI Labs launches with a ₹2,000 crore investment, focusing on AI for India, open-source models, and a partnership with NVIDIA to build the country’s largest AI supercomputer.
Ola Electric reclaimed its top position in India’s EV two-wheeler market with a 24.91% share, driven by expanded sales networks, strong S1 portfolio performance, and its newly launched Gen-3 lineup.
Ola Electric's CMO Anshul Khandelwal and CTO Suvonil Chatterjee have resigned amidst ongoing company restructuring. Both played key roles in marketing and product development. The departures highlight challenges despite Ola's strong growth, including a 38.5% revenue rise in Q2 FY25. Restructuring impacted 12% of staff, raising questions about leadership stability.
Krutrim, founded by Ola's Bhavish Aggarwal, unveiled a new free tier for Ola Maps APIs on July 18, aiming to drive developer adoption. This move responds to Google's plan to reduce Google Maps platform rates by up to 70% in India from August 1, 2024. The free tier includes essential APIs like autocomplete and directions, complemented by upcoming releases of new APIs, SDKs, and features. Aggarwal highlights the initiative's goal of supporting Indian innovation and offering competitive pricing against global tech giants. Additionally, early adopters committing to long-term use will benefit from waived charges, reinforcing Krutrim's commitment to fostering local tech talent.
Ola Electric has received SEBI's go-ahead for an IPO to raise ₹7,250 crore, enhancing its stance in the electric vehicle (EV) landscape. This IPO will consist of a new issuance worth ₹5,500 crore and an offer for sale amounting to ₹1,750 crore. The company is at the forefront of the EV market in India, particularly in the two-wheeler sector. The capital from this IPO is planned for extensive capital expenditures and for reducing debt, thereby boosting Ola's innovation efforts in EV technology. Furthermore, Ola intends to deepen its research and development to drive further advancements in electric mobility. This move is seen as a strategic effort to solidify Ola's presence in a fast-evolving industry.