Bhavish Aggarwal, founder and CEO of Ola Cabs and Ola Electric, is launching a new business. According to media reports, he has launched a new company with potential in the field of artificial intelligence (AI).
Agarwal founded a new company, Kurtrim SI Designs, in April. He and Teneti Venugopala Krishnamurthy are the only two directors of the new company, which was incorporated on April 5, according to documents received by business intelligence site Toffler from the Ministry of Enterprises.
According to reports, Agarwal will soon end funding from investors for the new company.
Krishnamurthy, known as TVG, is a long-term adviser to Agarwal and serves on the boards of all his companies. Agarwal’s flagship company, ANI Technologies, operates Ola Cabs, according to filings. Ola Electric Mobility, which deals with the electric vehicle industry. Ola Electric Technologies focuses on research and development. Ola Financial Services he has been wholly acquired by ANI Technologies.
According to the documents, Krishnamurthy serves on the board of directors of all these companies as well as Ola Electric Charging, a subsidiary of Ola Electric Mobility.
According to the aforementioned media reports, Agarwal may have secured investment in the new AI company from venture capital firm Matrix Partners, an early investor in Ola Cabs.
