Ride-hailing company, Ola announced the acquisition of ‘pikup.ai’, a Bengaluru based artificial intelligence (AI) start-up company. However, Ola did not disclose the acquisition amount. As a part of the deal, the team at pikup.ai will join Ola. Also Read - Ola to invest USD 500 mn in self-drive service
The AI start-up is co-founded by Inder Singh and Ritwik Saikia. It uses autonomous technologies like AI, computer vision and sensor fusion to offer seamless AI-powered solutions for businesses. Also Read - Ola to invest $100 million in scooter-sharing platform Vogo
“As we advance on our mission to build mobility for a billion people, we are investing in futuristic technology solutions that will shape the future of mobility in India and the world,” said Ankit Bhati, co-founder and Chief Technology Officer, Ola. Also Read - Government wants Uber and Ola to offer choice of ride sharing partners for women
“We are very excited to welcome the pikup.ai team to Ola and we look forward to co-creating innovative technology that will help redefine the mobility experience in the times to come,” Bhati added.
How Ola will leverage Pickup.ai’s tech
Ola is increasing its focus on using advanced analytics and deep technology to build futuristic mobility solutions for India and the world. Earlier this year, the company announced its intent to set up an Advanced Technology Centre in the San Francisco Bay area. It will focus on developing next-generation technologies in mobility like electric, connected and autonomous vehicles.
By bringing deep domain expertise to Ola, this ‘acquihire’ will also deliver innovations that continue to improve safety and transform the customer experience, the company said. “We are looking forward to joining Ola on its mission to build mobility for a billion people and are very excited about building meaningful technology solutions that have a deep impact on the lives of millions, every single day,” said Inder Singh, co-founder of pikup.ai.
Ola’s other investment
The ride-hailing company is also set to invest USD 500mn in self-drive service. It will pit the company against the likes of Sequoia Capital-backed Zoomcar and Y Combinator-backed Drivezy. This service, which is in a small-scale pilot in Bengaluru currently, is expected to be launched over the next few weeks.
With inputs from IANS.