News

Gig workers must develop industry-specific knowledge to remain competitive  There is a persistent skill gap among gig economy workers and they must develop industry-specific knowledge to remain competitive, a report said on Tuesday.  The report by TeamLease Edtech showed that 42.86 per cent of gig workers lack industry knowledge as the primary skill deficit. While gig workers are often technically adept, the absence of domain expertise can hinder their efficiency and effectiveness. In addition to this, 28.57 per cent of employers cited soft skills, i...
Gig workers must develop industry-specific knowledge to remain competitive
Gig workers must develop industry-specific knowledge to remain competitive
Source: IANS
2024-09-24 02:06:13 pm
Onboard gig workers on e-Shram portal in 3 months: Centre tells platform aggregators The Centre on Wednesday asked the platform aggregators like Zomato and Ola to onboard gig workers on the e-Shram portal within the next three months to help them access social security benefits.  In a meeting with platform aggregators such as Urban Company, Swiggy and Instamart, Zomato and Blinkit, Porter, Amazon, Uber and Ola as well as organisations such as FICCI, CII and Employer’s Federation of India, Minister of Labour and Employment Dr Mansukh Mandaviya emphasised the need...
Onboard gig workers on e-Shram portal in 3 months: Centre tells platform aggregators
Onboard gig workers on e-Shram portal in 3 months: Centre tells platform aggregators
Source: IANS
2024-09-18 06:21:07 pm
Key PLI schemes bring significant boost to local EV manufacturing in India To bolster the domestic electric vehicle (EV) manufacturing, the government’s production-linked incentive (PLI) scheme with an approved outlay of Rs 25,938 crore, along with some other key initiatives, have brought a significant change for the industry.  The Centre has already approved 50 of the 74 applications it received from automakers for the PLI schemes in the EV sector, and remaining 24 applications are under review. According to approved applicants under the main PLI s...
Key PLI schemes bring significant boost to local EV manufacturing in India
Key PLI schemes bring significant boost to local EV manufacturing in India
Source: IANS
2024-08-25 12:51:52 pm
Ola exits Google Maps, moves to in-house Ola Maps India's major ride-hailing company Ola has exited Google Maps and has shifted to its own Ola Maps for cab operations.   Bhavish Aggarwal, co-founder and Chairman of the Ola group said that through this move, the company will save nearly Rs 100 crore per year. Last month Aggarwal cut all his ties with Microsoft Azure and shifted his company's entire workload to in-house Artificial Intelligence (AI) firm Krutrim. In a social media post, he asked users to check Ola apps and...
Ola exits Google Maps, moves to in-house Ola Maps
Ola exits Google Maps, moves to in-house Ola Maps
Source: IANS
2024-07-06 04:33:37 pm
Ola CEO`s brother Ankush Aggarwal returns to company's ride-hailing business Ola founder Bhavish Aggarwal's brother Ankush Aggarwal has returned to the ride-hailing business after working with Ola Electric. The company has appointed him as the chief executive officer (CEO) of Ola Financial Services, according to media reports. His appointment comes after Hemant Bakshi resigned as CEO from the ride-hailing business last month. He was in charge of the mobility business, as well as key areas like financial services, logistics, and e-commerce. As per reports,...
Ola CEO`s brother Ankush Aggarwal returns to company's ride-hailing business
Ola CEO`s brother Ankush Aggarwal returns to company's ride-hailing business
Source: IANS
2024-05-14 04:25:19 pm
Ola Krutrim opens AI Cloud infrastructure for developers, launches mobile app Homegrown artificial intelligence (AI) company Ola Krutrim on Saturday announced to open up its cloud platform to enterprises, researchers and developers to build their own products, along with launching a mobile app. The cloud platform will provide access to AI computing infrastructure, Krutrim’s foundational Models and open-source models to developers. The Krutrim AI assistant app, built on the company’s own large-language model (LLM), will simplify leveraging the power of...
Ola Krutrim opens AI Cloud infrastructure for developers, launches mobile app
Ola Krutrim opens AI Cloud infrastructure for developers, launches mobile app
Source: IANS
2024-05-04 05:26:49 pm
Ola becomes 1st to launch ride-hailing operations at Ayodhya Airport  Ride-hailing company Ola on Monday launched cab operations at Maharishi Valmiki International Airport in Ayodhya. Ola founder Bhavish Aggarwal on LinkedIn shared the development, saying the company has installed a dedicated pickup zone with a team of representatives available 24x7 to assist all travellers for a hassle-free experience. "Today, Ayodhya, the Ram Nagri, is one of the fastest growing cultural and tourist hubs in India, welcoming millions of tourists annually,"...
Ola becomes 1st to launch ride-hailing operations at Ayodhya Airport
Ola becomes 1st to launch ride-hailing operations at Ayodhya Airport
Source: IANS
2024-04-23 09:50:35 am
Exclusive-India's Ola Cabs plans $500 million IPO, to appoint banks soon, sources say Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday. SoftBank-backed Ola is India's answer to Uber and plans to file papers for approval with the country's market regulator within three months, said the sources, who declined to be named as the matter is confidential. Ola declined to comment. The company is in tal...
Exclusive-India's Ola Cabs plans $500 million IPO, to appoint banks soon, sources say
Exclusive-India's Ola Cabs plans $500 million IPO, to appoint banks soon, sources say
Source: Reuters
2024-04-20 08:57:56 am
India`s Ola to stop ride-hailing operations in international markets Ola said on Tuesday it was exiting its ride-hailing businesses in the UK, Australia and New Zealand as the startup focuses on its home market India, where it is locked in a battle for market share with Uber. Ola Cabs, founded in 2010 by Bhavish Aggarwal, was operating in the international markets since 2018. Earlier this year, U.S. asset manager Vanguard cut Ola's valuation by 30% to under $2 billion. Parent ANI Technologies was valued at $7.3 billion in its most recent fundraise in...
India`s Ola to stop ride-hailing operations in international markets
India`s Ola to stop ride-hailing operations in international markets
Source: Reuters
2024-04-09 04:08:00 pm
US investment firm Vanguard cuts Ola`s valuation to $1.88 billion  US-based investment firm Vanguard has reportedly slashed down ride-hailing major Ola's valuation to less than $2 billion. Vanguard marked down Ola’s parent company ANI Technologies valuation to $1.88 billion (as of November 30, 2023), as per its regulatory filings with the US Securities and Exchange Commission (SEC). This valuation is 29 per cent lower than its previous fair value of $2.65 billion (August last year), reports Entrackr. This is the third consecutive mar...
US investment firm Vanguard cuts Ola`s valuation to $1.88 billion
US investment firm Vanguard cuts Ola`s valuation to $1.88 billion
Source: IANS
2024-02-05 05:07:43 pm
Ola Electric CEO`s new AI venture valued at $1 billion Artificial intelligence startup Krutrim, founded by CEO of Ola Electric Bhavish Aggarwal, has raised $50 million in the first funding round at a valuation of $1 billion, the company said in a blog post on Friday. It added that venture capital fund Matrix Partners India led the funding round, without giving further details. The startup unveiled a large language model last month and is set to launch a beta version in February, amid growing global excitement around generative AI technoloOg...
Ola Electric CEO`s new AI venture valued at $1 billion
Ola Electric CEO`s new AI venture valued at $1 billion
Source: Reuters
2024-01-26 05:44:12 pm
Ola announces ex-Unilever executive Hemant Bakshi as new CEO  ANI Technologies, the parent company of Ola, has announced Hemant Bakshi, a former executive at Unilever, as the new Chief Executive Officer (CEO) of Ola, according to media reports. Bhavish Aggarwal will step down as part of the company's effort to streamline operations. Prior to joining Ola, Bakshi was the executive Vice President (VP) of the marketplace and chairperson Unilever Indonesia.He joined Ola and moved back to India about four months ago, media reports said. Mea...
Ola announces ex-Unilever executive Hemant Bakshi as new CEO
Ola announces ex-Unilever executive Hemant Bakshi as new CEO
Source: IANS
2024-01-26 11:09:54 am
Olas mobility business in India logs Rs 250cr profit in FY23  Ride-hailing company Ola's mobility business in India reported a profit of Rs 250 crore in FY23 against a loss of Rs 66 crore in FY22. Bhavish Aggarwal-run company's revenue grew 58 per cent to Rs 2,135 crore in FY23 from Rs 1,350 crore in FY22. "In FY23, we challenged ourselves – to not just grow and scale, but to do this profitably. While our revenue continued to grow at a strong clip of 58 per cent, we became EBITDA positive in the India mobility business. One o...
Olas mobility business in India logs Rs 250cr profit in FY23
Olas mobility business in India logs Rs 250cr profit in FY23
Source: IANS
2024-01-26 11:02:16 am
India`s Leading EV Company Ola Electric files DRHP for IPO Bengaluru-based Ola Electric, a pure EV player, has filed its Draft Red Herring Prospectus (DRHP) with capital market regulator SEBI to raise funds for its initial public offering (IPO). The Issue is a fresh issue of equity shares up to ? 5,500 crore and an offer for sale (OFS) of 95,191,195 equity shares at a face value of ? 10. The issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to...
India`s Leading EV Company Ola Electric files DRHP for IPO
India`s Leading EV Company Ola Electric files DRHP for IPO
Source: PR Agency
2023-12-24 12:48:08 pm
EV maker Lohia Auto to launch high speed scooters, new three-wheeler  Launching high speed scooters and a new passenger carrying three-wheelers, expanding dealer network are what electric two- and three-wheeler maker Lohia Auto Industries Ltd is planning, said a top company official. The increased sales volumes will give the company economies of scale and in turn cut down the overall costs. He also hopes that the Indian government extends the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II subsidy scheme beyond March 2024 and does n...
EV maker Lohia Auto to launch high speed scooters, new three-wheeler
EV maker Lohia Auto to launch high speed scooters, new three-wheeler
Source: IANS
2023-11-10 10:11:05 am
Ather Energy, Ola Electric see lukewarm response from investors Despite gaining significant market shares, Indian electric two-wheeler (E2W) market leaders like Ola Electric and Ather Energy are witnessing a lukewarm response from investors amid heavy losses and regulatory uncertainties, the media reported.According to Nikkei Asia, industry executives view the lukewarm response to Ola and Ather's fundraising ?as a warning sign despite the startups' rapid growth? while green mobility is considered a sunshine sector.Ather Energy "resorted to a rights issue ...
Ather Energy, Ola Electric see lukewarm response from investors
Ather Energy, Ola Electric see lukewarm response from investors
Source: IANS
2023-10-08 11:10:41 am