Ola, leading ride-hailing company, has acquired artificial intelligence startup Pikup.ai based out of Bangalore as part of strengthening its technology capability.
Ritwik Saikia, Pikup.ai uses autonomous technologies like artificial intelligence, computer vision and sensor fusion to provides seamless AI-powered solutions for businesses. As part of the deal, the team at pikup.ai will join Ola.
Ola is increasing its focus on using advanced analytics and deep technology to build futuristic mobility solutions for India and the world. With Ola’s expertise in the segment and the availability of rich data, the application of machine learning and AI will enable the company to identify deep insights that can lead to improved mobility outcomes.
This will include investments in early-stage businesses, acquisitions as well as acquihires across Artificial Intelligence, Machine Learning, Computer Vision and other emerging areas of deep technology.
Earlier this year, Ola announced its intent to set up an Advanced Technology Centre in the San Francisco Bay area, to focus on developing next-generation technologies in mobility like Electric, Connected and Autonomous Vehicles. By bringing deep domain expertise to Ola, this acquisition will also deliver innovations that continue to improve safety and transform customer experience.
Ola CTO and Co-Founder Ankit Bhati said as the company advance on its mission to build mobility for a billion people, Ola is investing in futuristic technology solutions that will shape the future of mobility in India and the world. “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.”
Pikup.ai Co-founder Inder Singh said Ola is one of the world’s most admired mobility platforms and has pioneered many innovations in mobility and beyond in such a short span of time. “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.
According to analysts, the Bengaluru-headquartered company is coming up with big plan as part of solving mobility issues and given big importance to its aquisition strategy. “The company last year bought public transportation app Ridlr for an undisclosed amount. Also, recently the company agreed to pump $100 million in scooter-sharing startup Vogo. They want to be part of all part of mobility puzzle and capitalise on it,” said the analyst.
There is a rumour in the market that the company is in talks to invest in or acquire medicine delivery startup Myra Medicines. Ola has a payments business called Ola Money which is performing better. Even though it acquired food delivery platform Foodpanda, the company later decided to wind up its activities.
The company already has come up with big plan on electric mobility as it formed Ola Electric. “The company piloted it in Nagpur by joining hands with Mahindra and now spread its wings. It also plans to deploy Special Purpose Vehicles by joining hands with some automotive company. Ola plans to bring one million electric vehicles on Indian roads by 2022,” said a source familiar with the development.