Ola cabs is an Indian ride-hailing platform that was founded in 2010 by Bhavish Aggarwal and Ankit Bhati with a mission to offer easy travel for millions of Indians. Ola offers vehicles both for hire and food delivery. It is India's largest ride-sharing and hailing service app with a market share of $6.5 billion.
Enlisted below are a few startups that were funded by Ola.
Foodpanda India
TaxiForSure.com
Ridlr
Geotagg
Qarth
FAQ
Foodpanda India
Foodpanda is a Germany-based online food delivery platform which is owned by Delivery Hero. Foodpanda currently operates with 20 brands in 50 countries around the globe and has its headquarters in Berlin, Germany.
Acquisition
Foodpanda's business in India was procured by Ola for all offer arrangements in December 2017. Ola decided to invest $200 million extra assets in Foodpanda.
Amount Invested
$40-$50 million.
TaxiForSure.com
TaxiForSure is an aggregator of vehicle rentals and cabs for people to get an effectively available, reliable, and dependable taxi ride. They work with different taxi managers and empower them with innovation to guarantee that people get taxi rides. As the name suggests, TaxiForSure.com promises a sure taxi ride!
Acquisition
The Banglore-based company was acquired by Ola Cabs in 2015. Ola always wanted to be the biggest transporter in the world. After the acquisition of TaxiForSure.com, Ola gained a massive lead over its biggest rival, Uber, and increased its revenue.
Amount Invested
$200 million
Ridlr
Ridlr is an Indian public transporting and ticketing app used for intra-city travel founded in 2012.
Ridlr permits travelers to get ongoing data about the different modes of travel. It also books tickets and tokens through the application via online payments. Ridlr has a firm connection with BEST(Brihanmumbai Electricity Supply and Transport)
Acquisition
Since Ridlr has strong connections with BEST and Ola always wanted to be the biggest transporter, Ola cabs made its second acquisition in the public transport ticketing app.
This was a big achievement for Ola since it always wanted to expand its business beyond extensive ride-hailing and get into public transport as well.
Amount Invested
Over $25 million
Alan Joseph
Geotagg
Geotagg is a startup set up by IIT Madras graduates, zeroed in on giving systems in the field of Intelligent Transportation Systems. Geotagg's GPS-based Public Information Systems is the answer for traffic which is explicitly produced for the powerful Indian traffic conditions and has been tried to perform with unequaled precision.
Acquisition
Buses are a superior method of travel in India, with about 1.5 lakh transports moving exactly 70 million individuals consistently, daily. Ola, the country's biggest online taxi aggregator, is hoping to solidify its client base by venturing into related vehicle organizations including transport administrations, carpooling, and bike taxis.
Amount Invested
NA
Qarth
Qarth, which runs a versatile installments application called X-Pay, is Ola's second interest in the mobile payment space. Taxi-hailing app Ola, run by ANI Technologies Pvt. Ltd has taken mobile payments organization Qarth, trying to encourage its versatile wallet administration Ola Money dispatched in November 2015.
The organization had gotten a minority stake in ZipCash Card Services Pvt. Ltd, an organization that has a wallet permit from the Reserve Bank of India, in June 2015.
Acquisition
Ola consistently is searching for digital cash move administrations for its Financial Arm Ola Money. It will assist buyers to pay using the digital wallet for both food and grocery.
Ola Money can not exclusively be utilized to make installments for Ola rides, but it can be used for other online stages, for example, online eyewear store Lenskart, lodging aggregator Oyo Rooms, music streaming application Saavn, and hyperlocal hardware retailer like Zopper.
Amount Invested
NA
Alan Joseph
FAQ
What is the revenue of Ola?
The revenue of Ola was 2,544 crores INR in 2019.
What are the Startups funded by Ola?
Ola has funded TaxiForSure, Geotagg, Qarth, Foodpanda and Ridlr.
Author: Niharika Kalyankar
Source : https://startuptalky.com/ola-funded-startups/
Date : 2021-07-18T12:30:00.000Z