Ola Electric founder and CEO Babish Agarwal plans to enter a new business likely to focus on the areas of computer programming and artificial intelligence, according to a report by ET Prime. It says.
Ola Electric founder and CEO Babish Agarwal plans to enter a new business likely to focus on the areas of computer programming and artificial intelligence, according to a report by ET Prime. It says.
Agarwal, along with Krishnamurthy Venugopala Teneti, registered a company called Krutrim SI Designs, according to the report. Tenneti is also one of the board members of ANI Technologies, which owns Ola Cabs and Ola Electric.
Agarwal, along with Krishnamurthy Venugopala Teneti, registered a company called Krutrim SI Designs, according to the report. Tenneti is also one of the board members of ANI Technologies, which owns Ola Cabs and Ola Electric.
The date of establishment is April 15, 2023, and the paid-up capital is ₹1,00,000,” data sourced from the Ministry of Enterprise (MCA) show.
The date of establishment is April 15, 2023, and the paid-up capital is ₹1,00,000,” data sourced from the Ministry of Enterprise (MCA) show.
The new startup will help develop and operate Ola Electric, Money Control reported.
The new startup will help develop and operate Ola Electric, Money Control reported.
Agarwal may have received a commitment to invest in the new AI venture from Ola Cabs’ early investor, venture capital firm Matrix Partners, the ET report said.
Agarwal may have received a commitment to invest in the new AI venture from Ola Cabs’ early investor, venture capital firm Matrix Partners, the ET report said.
“The new company is working on computer programming, which must be related to chip manufacturing and other related technologies,” said people familiar with the development.
“The new company is working on computer programming, which must be related to chip manufacturing and other related technologies,” said people familiar with the development.
This development comes as Ola Electric nears funding for expansion plans and other corporate needs. The company also plans to go public next year. Ola Electric’s new funding comes amid expectations that the company will soon reach breakeven and achieve profitability.
This development comes as Ola Electric nears funding for expansion plans and other corporate needs. The company also plans to go public next year. Ola Electric’s new funding comes amid expectations that the company will soon reach breakeven and achieve profitability.
Agarwal has spoken about manufacturing chips for EVs in India, and recently visited Taiwan, a major hub for chip makers of AI computing systems. Indian EV companies source chips from Japan, North Korea and China.
Agarwal has spoken about manufacturing chips for EVs in India, and recently visited Taiwan, a major hub for chip makers of AI computing systems. Indian EV companies source chips from Japan, North Korea and China.
Agarwal earlier this week announced the launch of a new premium service by Bangalore’s Ola Cavs, promising zero cancellations and zero operational hassles.
Agarwal earlier this week announced the launch of a new premium service by Bangalore’s Ola Cavs, promising zero cancellations and zero operational hassles.
