Online cab aggregator Ola has partnered with MapmyIndia to acquire a multi-year license for MapmyIndia’s mapping data and get get map updates from the latter. The financial details of the partnership were not disclosed. Ola says that it mines billions of location data points from its ride requests daily, to get real time locations update, which will now be overlaid on MapmyIndia’s mapping data. It plans to build a routing algorithm for improved efficiency for its drivers along with “significantly lower” ETAs for users. Ola has a geolocation services team which includes engineers, product managers and analysts. Geotagg acquisition: In related news and earlier this month, Ola acquired Geotagg, a company which provided transport solutions across web, mobile and kiosks, especially for public transportation, for an undisclosed amount. Ola will reportedly use the Geotagg technology to strengthen its intra city bus shuttle service, which will pilot in Delhi NCR. In September, Ola added a bus shuttle service to its platform to aggregate tourist and charter buses. Funding: Earlier this week, Ola raised $500 million from various investors for growth related activities and mobility solutions. It also has 350,000 registered vehicles (275,000 cabs and 75,000 auto rickshaws) on its platform, up from 250,000 in August, also when it was doing 750,000 rides daily, in 102 Indian cities. Ola claims that its average ETA for cab arrival has dropped to 5 minutes, while vehicles from Mini and Auto are available within 2 minutes in most cities. Its press statement claims that the…
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