This would be an extension of an existing relationship when, back in 2017, Microsoft and Ola teamed together to begin developing a new connected vehicle platform for auto manufacturers.
According to some reports, this investment will see the companies continue to create their platform, but deepen their combined investment into new mobile technologies focused around connected cars.
Ola, which currently boasts around 200 million users on their platform which operates within India, UK, New Zealand, and Australia, also recently announced they would be establishing a new research effort in the US to develop technologies around connected and electric cars.
Currently, Ola is competing heavily with ride-hailing rival Uber for market dominance within India and has raised around $3 billion in total. Some of their current investors include Softbank, Tencent, Ratan Tata, Hyundai, Kia, and Sachin Bansal.
Around a month ago the company had raised $5.3 million from a pre-IPO fund. This is apart of an effort by the company to create profits as they also prepare to eventually launch their IPO sometime in the next handful of years.
In the previous fiscal year, Ola was able to cut their losses by half and increase their revenues by 61%.
Ola also recently launch their new autonomous car-sharing platform called Ola Drive. Ola is aiming to add 20,000 vehicles onto their platform by next year and will be putting around $200 million into growing Ola Drive.
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