India: Ride-hailing company Ola has entered into a multi-year agreement with location data provider MapmyIndia to build location algorithms over and above mapping data. This would help Ola to improve the efficiency of its driver-partners and lower estimated time of arrival in the future.
Ola co-founder and CTO Ankit Bhati has released a statement which said, “Through this partnership, Ola will get complete access to mapping data from MapmyIndia, which has the IP ownership for the most comprehensive, accurate and updated digital map data for the country.”
Earlier this week, the company had raised $500 million led by Baillie Gifford, Falcon Edge Capital, Tiger Global, SoftBank Group, DST Global and Didi Kuaidi. Ola competes with US-based Uber in the country.