Ola invests in mapping data from MapmyIndia to build geolocation based innovations

Ola has acquired a multi-year MapmyIndia license, a move which will help the on demand transportation app to get complete data access from the digital mapping company.

Ola said it will build location algorithms over and above mapping data from MapmyIndia.

The Bengaluru based company also plans to build smarter routing algorithms that will result in improved efficiency for driver-partners and significantly lower estimated arrival time for customers in the time to come.

Ankit Bhati, cofounder and CTO at Ola said, " Technology innovations around mapping and geo-location will help us build a better experience for driver-partners and customers."

Ola, with competes with San Fransicio based Uber, earlier this week raised $500 million led by Baillie Gifford, Falcon Edge Capital, Tiger Global, SoftBank Group, DST Global and China’s biggest taxi aggregator Didi Kuaidi.

Owned by CE Info Systems, MapmyIndia has raised around $30 million in funding from venture capital investors like Lightbox Ventures, Nexus Venture Partners and Qualcomm Ventures besides Japanese mapping company Zenrin. The firm was founded in 1992 by husband wife duo Rakesh Verma and Rashmi Verma.