Ola Acquires Geospatial Analytics Firm GeoSpoc
Ola recently announced that it has acquired GeoSpoc, a geospatial service platform. The deal comes when the Bengaluru-based startup looks to launch an initial public offering (IPO) early next year. The company aims to build next-generation location technologies, such as real-time 3D and vector maps, with the following move. Ola wants to develop technologies to make mobility accessible and convenient across shared and personal vehicles. Founded in 2015 by Dhruva Rajan, Pune-based GeoSpoc provides location-based solutions, services and products to business verticals such as BFSI, retail, precision agriculture and consumer goods/FMCG. “New Mobility will require better, newer maps and geospatial services. Today, we are taking the first step towards this by acquiring GeoSpoc, India’s leading provider of geospatial services. Dhruva and his team of geospatial scientists and engineers will be joining Ola to develop technologies which will make mobility universally accessible, sustainable, personalised, and convenient across shared and personal vehicles,” said Bhavish Aggarwal, Chairman and Group CEO, Ola. Bhavish added further, saying, “Multi-modal transportation options will need geospatial intelligence to understand the unique benefits of each option and provide suggestions accordingly. Maps will need to consider a three-dimensional view of the world as aerial mobility models such as drones become more mainstream”. Bhavish stated that accurate and rich maps with high user context should be available to the population beyond the first 100 million users. Bhavish also explained that near-real-time satellite imagery should be incorporated in maps to provide a better understanding of road quality, as well as improvements such as avoiding poorly lit streets at night for safety even if it is a faster route. Autonomous driving will need HD and 3D maps that will offer superior visualisation and dynamic real-time updates based on the road, traffic, and weather conditions. According to him, enhanced geospatial services will also go a long way in improving urban planning, including road networks, better public transportation, and pre-empt congestion spots.
Ola wants to develop technologies to make mobility accessible and convenient across shared and personal vehicles.
The company aims to build next-generation location technologies, such as real-time 3D and vector maps, with the following move.
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Victor is an aspiring Data Scientist &amp; is a Master of Science in Data Science &amp; Big Data Analytics. He is a Researcher, a Data Science Influencer and also an Ex-University Football Player. A keen learner of new developments in Data Science and Artificial Intelligence, he is committed to growing the Data Science community.