Ride-hailing company Ola is in talks with tech giant Microsoft to raise around $200 million as funds to Ola’s parent, ANI Technologies Pvt. Ltd, media reports said.
As per the reports, the discussions between the two companies are in the final stage and are likely to be closed with 10-15 days. As a part of the deal, Microsoft will acquire around 4.5 per cent of ANI technologies’ shares.
In 2017, the two companies decided to work together in building a new connected vehicle platform for car makers globally. As per the project, the cars’ transmit data will be stored into the cloud.
The project will showcase software as well as and hardware solutions addressing the emerging mobility segment, reports said.
“The (Ola-Microsoft) partnership will include cloud solutions, a connected vehicles product and deep-tech capabilities focused on future mobility solutions. The tech will also have direct implications for Ola Electric,” Microsoft spokeswoman said.
(With input from agencies)