After pulling out of China, Uber Technologies has now turned its focus on the second-most-populous nation -- India. But to win there the U.S. ride-hailing company has to contend with Ola, India's market leader.
ANI Technologies, the Indian start-up behind Ola, recently raised $1.1 billion in a funding round led by Chinese tech giant Tencent Holdings. Participants included SoftBank Group, the Japanese wireless carrier and Ola shareholder.
Ola will use the money to hire drivers, in addition to investing in technical development centered on information technology. The startup will recruit drivers in unpenetrated regions by offering incentives, and expand advertising. Ola is also seen investing in artificial intelligence that will quickly dispatch cars to clients and devise the shortest routes to destinations.
Thanks to the spread of smartphones, app-based ride hailing has taken off in India since the pricing schemes offer more transparency than conventional taxi services.
The above article was sourced from Asia.Nikkei.com. Read more here.