Microsoft set to invest $200 million in Ola

October 30, 2019: Reports suggest that ride-hailing major Ola is in advanced talks with technology giant Microsoft for a funding of around $200 million.

According to PTI sources, discussions are at an advanced stage and likely to be closed in the next 10-15 days.

The companies will likely continue their deep-tech partnership in areas like cloud. Mint reported that the project, which began in 2017, aims to connect cars with Internet of Things sensors, and the transmitted data is stored in the cloud. The technology will track the car not just for location through GPS, but also for the quality of its engine and for relaying information needed by vehicle insurers.

Ola recently set up a research unit in the Bay Area of the United States (US) to focus on new areas like e-vehicles and connected cars. The company's investors include Ratan Tata, SoftBank, Tencent Holdings, Hyundai Motor Company, Kia Motors, Sachin Bansal and others.

In India, Bengaluru-based Ola and US-based Uber is locked in a battle for market leadership.