Microsoft to invest $200 million in Ola
Ride-hailing company Ola is set to unveil a connected car project in partnership with Microsoft, according to the Chicago Tribune.
The project, which began in 2017, aims to connect cars with IoT sensors, delivering software and hardware solutions that address the emerging mobility segment. In addition, Microsoft will invest around $200 million in Ola’s parent, ANI Technologies Pvt. Ltd, acquiring around 4.5% equity stake in the company.
“The (Ola-Microsoft) partnership will include cloud solutions, a connected vehicles product and deep-tech capabilities focused on future mobility solutions. The tech will also have direct implications for Ola Electric” – Chicago Tribune.