Microsoft set to invest $200 mn in Ola, boost connected car tie-up

In other news, Jungle Ventures, a Singapore-based venture capital (VC) firm that has invested in several Indian startups, has raised $240 million for its third fund


Microsoft set to invest $200 mn in Ola, boost connected car tie-up
Ride-hailing company Ola is set to unveil a connected car project in partnership with Microsoft Corp., which will also invest around $200 million in Ola’s parent, ANI Technologies Pvt. Ltd, Mint reported citing two people aware of the deal. Microsoft will acquire around 4.5% in ANI Technologies as part of the deal. The project, which began in 2017, aims to connect cars with Internet of Things sensors, and the transmitted data is stored in the cloud. The car is thus tracked not only for its location through GPS, but also for the quality of its engine and for relaying information needed by vehicle insurers. The project will showcase software and hardware solutions addressing the emerging mobility segment, as it 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. Ola’s proposed connected vehicles project is an “extension" of the initial tie-up with Microsoft. In 2017, Ola said it would become a connected car solutions supplier to auto companies worldwide. As part of the partnership, Microsoft would become the default cloud service provider to Ola, wherein the cab-hailing platform would also use Microsoft Azure for Ola Play, the ride-hailing company’s in-cab video streaming service.

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