Ola, India's home grown online cab aggregator, has raised a fresh bout of funding with its existing as well as new investors. The cab aggregator raised funds to the tune of USD 350 million at a lower valuation of USD 3.5 billion, down from the highs of USD 5 billion it enjoyed earlier.
Ankit Bhati, CTO and Co-Founder, Ola, said the feature was piloted in several smaller markets like Indore and Nagpur, and saw significant acceptance among the consumers in these cities over the past few weeks.
The former Goldman Sachs Vice President will primarily be working towards enhancing capabilities in Data Science and Machine Learning at Ola, Ola said in a statement.
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Ola also plans to build smarter routing algorithms that will result in improved efficiency for driver-partners and significantly lower ETAs for customers, Ola executive director and chief business officer Shivalik Prasad said.
This Raksha Bandhan, thousands of driver partners on Ola, India’s most popular mobile app for personal transportation, took part in a ...
"Arun brings a global perspective and a strong understanding of emerging markets like India. His experience in management and in growing large companies is invaluable to Ola," Ola Co-founder and CEO Bhavish Aggarwal said.