Bengaluru, 8th July 2024: In a significant development within the tech and transportation industry, Ola Cabs, under the leadership of Bhavish Aggarwal, has made a strategic transition to utilizing its proprietary online mapping service, Ola Maps. This move marks a pivotal shift for the Bengaluru-based ride-hailing company as it aims to enhance operational efficiency, reduce costs, and offer advanced features to its users.
The decision to shift to an in-house navigation platform comes on the heels of Ola Electric’s successful commercial launch of Ola Maps in January this year. Founder Bhavish Aggarwal emphasized the substantial cost savings achieved by the company through this transition, stating that they have managed to eliminate an annual expenditure of ₹100 crore by fully leveraging their in-house mapping solution. This move not only signifies a shift towards greater self-reliance but also underscores Ola’s commitment to innovation and technological advancement.
Ola Maps, the company’s proprietary mapping service, is set to offer a range of new features to users, including street view capabilities, neural radiance fields (NERFs) for enhanced visualization, indoor images for precise navigation, 3D maps for a more immersive experience, and drone maps for comprehensive aerial views. These advanced features are designed to elevate the user experience and provide more accurate and detailed navigation assistance.
To complement the functionalities of Ola Maps, the company has integrated cloud services provided by Krutrim AI, a venture founded by Bhavish Aggarwal. The inclusion of dedicated application programming interfaces (APIs) for Ola Maps further strengthens the mapping service’s capabilities and sets the stage for future enhancements and integrations.
This strategic move towards an in-house mapping platform comes amid a recent dispute with Microsoft, during which Ola migrated its workload from Azure, Microsoft’s cloud computing service. The decision to bring Ola Maps in-house not only aligns with Ola’s vision for self-sufficiency but also positions the company for greater control over its mapping infrastructure and data.
By streamlining operations and reducing reliance on external services, Ola aims to trim losses and pave the way for further scalability of Ola Maps. The transition to an in-house platform is expected to optimize resource allocation, improve operational efficiency, and drive innovation within the company’s mapping division.
ANI Technologies, the parent company of Ola, reported a consolidated net loss of ₹772.2 crore in the financial year 2022-23, a notable decrease from the previous fiscal year’s loss of ₹1,522.3 crore. Despite the challenges posed by the evolving market landscape, Ola has demonstrated resilience and adaptability in navigating the competitive tech and transportation sector.
In parallel, Ola Electric, the electric vehicle venture led by Bhavish Aggarwal, received approval from the Securities and Exchange Board of India (SEBI) for a public listing. The proposed listing includes a fresh issuance of shares worth ₹5,500 crore and an offer for sale (OFS) component comprising up to 9.51 crore shares. This development underscores Ola’s commitment to sustainable mobility and its aspirations for growth and expansion in the electric vehicle market.
As Ola embarks on this transformative journey towards self-reliance and innovation with the integration of Ola Maps and Krutrim AI’s cloud services, the company is poised to strengthen its position in the tech ecosystem and deliver enhanced mapping solutions to its global user base. The strategic shift to an in-house navigation platform reflects Ola’s forward-thinking approach and commitment to driving technological advancements in the transportation industry.