Ola
Founded in 2010 by Bhavish Aggarwal and Ankit Bhati, Ola is a ride-hailing and mobility service company. Headquartered in Bengaluru, it serves over 250 cities across India, Australia, New Zealand, and the UK.
It ventured into its first overseas market in Australia in January 2018, followed by New Zealand in September, and then the UK in 2019.
The Ola mobile application allows users to sign up using their mobile numbers, set up their accounts and access all its features, which include, booking rides, buying their electric vehicle products, and insurance.
In 2019, the company launched Ola Bike, which offers bike taxi services for short-distance travelling. And in 2020, it launched Ola Fleet which caters to corporate travel and employee transportation.
The company has raised $5 billion in funding across 29 rounds. Its investors include SoftBank, Steadview Capital, and Temasek Holdings, among others.
In 2017, Aggarwal launched Ola Electric, which unveiled its first electric scooter Ola S1 in August 2021, soon after the announcement of its construction of the world's largest electric scooter manufacturing plant in Tamil Nadu, India.
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In Depth
In 2024, quick commerce growth boomed. Players now eye the sweet spot of profitability
Akshita Toshniwal | December 26, 2024
With consumers looking at quick commerce players like Zepto, Blinkit, and Instamart for everything, from eggs to iPhones, the companies now aim for profitability and expansion.
News
Workplace solutions provider IndiQube files DRHP, eyes Rs 850 Cr IPO
Sai Keerthi | December 24, 2024
The offering consists of a fresh issue of equity shares of up to Rs 750 crore and an offer for sale of equity shares of up to Rs 100 crore.
Daily Capsule
Why the jobs market is cautiously optimistic; EV startups hit the road in 2024
Team YS | December 24, 2024
The hiring landscape in 2024 witnessed a delicate balance between caution and optimism. In 2024, EVs entered the mainstream. According to the national vehicle registry Vahan, 1.8 million EVs were sold this year till November.
Electric Vehicle
2024: The year mobility startups hit the accelerator and EVs ruled the roads
Sai Keerthi | December 24, 2024
Regulatory support and Ola Electric becoming the first public EV manufacturer turned the spotlight this year on clean mobility. However, the ride hasn’t been smooth.
Artificial Intelligence
Bhavish Aggarwal’s Krutrim offers free cloud credits to all IITs to support AI innovation
Sai Keerthi | December 23, 2024
Founded by Bhavish Aggarwal, Krutrim will provide IIT faculty and students with a one-time credit worth Rs 10,000 that can be used on its cloud platform.
Daily Capsule
What’s behind Bitcoin’s rally in 2024; How India can unlock AI’s potential
Team YS | December 23, 2024
From a stormy start in January to shattering all-time records, in 2024, Bitcoin evolved from a speculative asset to being part of institutional portfolios, driven by regulatory approvals and a growing global investor audience.
News
Historic Rs 1.6 lakh Cr raised via IPOs in 2024, bigger boom expected in 2025
Press Trust of India | December 22, 2024
Companies of varying market capitalisations—large, mid, and small—tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
Daily Capsule
Startups won public markets in 2024; Edtech learnings in 2024
Team YS | December 21, 2024
Thirteen startups became publicly listed entities this year. In 2024, the edtech sector's hyper-growth mentality began to shift. Once launched, rockets often end up in the oceans, where they are often left. In an attempt to change this, SpanTrik is developing reusable rocket launch vehicles.