Ola acquires geospatial services startup GeoSpoc

• ByManjeet Singh     |    October 5, 2021

Ola has announced the acquisition of GeoSpoc, a Pune-based provider of geospatial services. As part of this deal, GeoSpoc cofounder Dhruva Rajan and his team of scientists and engineers will join Ola to develop technologies that will make mobility accessible, sustainable, personalized, and convenient across shared and personal vehicles, the company said in a statement. The complete terms of the deal have not been disclosed yet.

Ola Electric recently raised $200m in funding led by Falcon Edge, SoftBank, and others, at a valuation of $3b. GeoSpoc specializes in geographic information systems (GIS) and location-based technologies, delivering intelligence from location-based analytics to its customers. It currently has a presence in India, the United States of America, the United Kingdom, and Finland.

According to Ola’s CEO Bhavish Aggarwal, the company’s New Mobility strategy will lead to significant growth in both shared and personal mobility in the country through a combination of electric vehicles lowering costs, digital retail driving convenience, and the cloud enabling personalization.

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