Indian ride hailing giant Ola has 'acquihired' Pikup.ai, an artificial intelligence start-up from Bengaluru, for an undisclosed amount.
As part of the deal, Ola will hire Pickup.ai's team following the acquisition. Pickup.ai is co-founded by Inder Singh and Ritwik Saikia. The start-up uses autonomous technologies like artificial intelligence, computer vision and sensor fusion to provide seamless AI-powered solutions for businesses.
Earlier this year, Ola announced its intent to set up an Advanced Technology Centre in the San Francisco Bay area, to focus on developing next-generation technologies in mobility like Electric, Connected and Autonomous Vehicles. Ola expects this acquisition to deliver innovations that continue to improve safety and transform customer experience.
Talking about the deal, Ankit Bhati, co-founder & CTO, Ola, said: "As we advance on our mission to build mobility for a billion people, we are investing in futuristic technology solutions that will shape the future of mobility in India and the world". Ola has said that it is increasing its focus on using advanced analytics and deep technology to build futuristic mobility solutions for India and other markets.
The cab aggregator aims to use the rich data it has and its expertise in technologies like machine learning and artificial intelligence to identify deep insights that can lead to improved mobility outcomes. This will include investments in early-stage businesses, acquisitions as well as acquihires across Artificial Intelligence, Machine Learning, Computer Vision and other emerging areas of deep technology.
Commenting on the deal, Inder Singh, co-founder of Pikup.ai, said: "we are looking forward to joining Ola on its mission to build mobility for a billion people and are very excited about building meaningful technology solutions that have a deep impact on the lives of millions, every single day".