ola – The News Desk

Ola to Shut Operations in UK, Australia, New Zealand; to Focus on India Business

9Apr

By adminNo Comments

Business

Ola to Shut Operations in UK, Australia, New Zealand; to Focus on India Business

Ola had launched operations in UK, Australia and New Zealand in phases in 2018. (Representational image via AP Photo)Ola says it will continue to focus on India business, where it sees immense opportunity for expansionRide-hailing services provider Ola has decided to shut down operations in the UK, Australia and New Zealand and will continue to focus on India business, its promoter ANI Technologies said on Tuesday. The Softbank-backed company said that it sees immense opportunity for expansion in India.“Our ride-hailing business is growing rapidly, and we remain profitable and segment leaders in India. The future of mobility is electric – not just in personal mobility, but also for the ride-hailing business and there is immense opportunity for expansion in India. With this clear focus, we...

16Dec

By adminNo Comments

Business

Next: Ola’s ‘Made for India’ ChatGPT

BENGALURU:Ola founder Bhavish Aggarwal on Friday announced a "Made for India" ChatGPT equivalent that he said will support 10 Indian languages. Several ventures in India are working on similar initiatives, based partly on the government's Bhashini mission that is building an Indian language database and which can be used to train AI models.Called Krutrim, Sanskrit for artificial, Aggarwal's AI company will have an identity separate from Ola's mobility and EV businesses.Aggarwal said the company was incorporated as Krutrim SI Designs in April with teams based in Bengaluru and San Francisco.Krutrim will debut with a beta version in January that enterprises and developers will be able to use to build chatbots for their specific purposes. The demonstration showed the system can switch between...

Ola’s Bhavish Aggarwal joins the race with Krutrim

15Dec

By adminNo Comments

Business

Ola’s Bhavish Aggarwal joins the race with Krutrim

During the launch event, Aggarwal demonstrated an AI chatbot powered by Krutrim. It functions similarly to OpenAI's ChatGPT and Google's Bard Krutrim Si Designs, the artificial intelligence (AI) venture of Ola co-founder Bhavish Aggarwal, on Friday unveiled Krutrim, its base large language model (LLM). Krutrim has joined the increasingly-competitive AI race dominated by players such as Google, Microsoft and OpenAI. It has been built with the largest representation of Indian data used for its generative AI applications for all Indian languages. It has been trained by a team of leading computer scientists, based in Bengaluru and San Francisco. This model will also power Krutrim’s conversational AI assistant, which understands and speaks multiple Indian languages f...

Ride-Hailing: Ola’s losses widen to Rs 1,522 crore in FY22; EV arm Ola Electric’s losses rise manifold

10Aug

By adminNo Comments

Business

Ride-Hailing: Ola’s losses widen to Rs 1,522 crore in FY22; EV arm Ola Electric’s losses rise manifold

NEW DELHI: ANI Technologies which runs Ola has reported losses of Rs 1,522 crore on a consolidated basis for the year ended March 31, 2022, recording a 36% year-on-year rise in losses. The ride-hailing major had posted losses of Rs 1,116 crore in FY21, the company’s financials sourced from market intelligence platform Tofler showed.Even as the ride hailing major’s business recovered from the pandemic led disruption—reflected in its revenue from operations which widened to Rs 1,970 crore in FY22 from Rs 983 crore in FY21, the firm’s expenses increased by nearly 68% y-o-y to touch Rs 3,362 crore.Ola which competes with Uber in India recently had its valuation marked down by its investor Vanguard which slashed the valuation of its holding in the company by over 50% to $3.5 billion.Meanwhile,...