New Delhi, Cab-hailing platform, Ola said on Tuesday that it has acquired GeoSpoc, the country's leading provider of geospatial services, for an undisclosed sum.
Bhavish Aggarwal, founder and CEO of Ola, said that GeoSpoc scientists and engineers will join Ola to develop technologies which will make mobility globally accessible, sustainable and convenient, across shared and personal vehicles.
" As shared and personal mobility penetrate deeper to cover 50 to 100 percent of India's population in the next few years, maps will need to improve in a variety of ways," he said.
He added that rich and accurate maps with high user context should be available to populations beyond the first 100 million users.
Led by CEO Dhruva Rajan, GeoSpoc was set up as an idea at Barista Café in Pune in the summer of 2014.
Today, it continues to double its growth and has moved to a larger facility in Pune. The startup now has permanent employees based in the UK and has expanded its geospatial services to more clients. In the US, it launched its Geoblockchain-based platform.
Autonomous driving will need high-resolution 3D maps that provide superior visualization and dynamic, real-time updates based on road conditions, traffic and weather.
“Enhanced geospatial services will go a long way towards improving urban planning, including road networks, improving public transportation and avoiding congestion spots," said Aggarwal.
Ola said that it has the data and expertise, as well as a massive 2.3 and 4W network that provides unprecedented geo-spatial details.
"We can overlay this data with new sources such as satellite imagery and visual feeds from our network on the ground to build 'live maps' that capture the changing landscape of our world," the company said.
Last month, electric car maker Ola Electric raised over $200 million led by Falcon Edge, Softbank and others, at a $3 billion valuation.
Ola said it will accelerate the development of other vehicle platforms, including the electric motorcycle, mass-market scooter and its electric car.
Also Read: How to fund excess savings in mutual funds