Ola Partners MapmyIndia for Better Navigation

Taxi aggregator Ola on Friday announced its partnership with MapmyIndia by acquiring a multi-year licence.

"Through this partnership, Ola will get complete access to mapping data from MapmyIndia, which has the IP ownership for the most comprehensive, accurate and updated digital map data for the country," Ola co-founder and CTO Ankit Bhati said in a statement in Bengaluru.

This "first-of-its-kind" partnership in the country would also enable consistent map updates from MapmyIndia to Ola, making the data rich and relevant, he said.

Geo-information was at the core of Ola's mobility business and the company had invested considerably in this area since inception, Bhati said.

Ola also plans to build smarter routing algorithms that will result in improved efficiency for driver-partners and significantly lower ETAs for customers, Ola executive director and chief business officer Shivalik Prasad said.

Earlier this week, Ola announced it had raised $500 million (roughly Rs. 3,299 crores) Series F funding from Baillie Gifford, China's Didi Kuaidi and existing investors, including Falcon Edge Capital, Tiger Global, SoftBank Group and DST Global.

"We will use these funds to further accelerate growth. We are excited about bringing onboard partners who can help us get there faster. We will continue to build for the local market through innovative solutions like Ola Share, Ola Prime and Ola Money, as we grow the mobile ecosystem in India," Ola co-founder and CEO Bhavish Aggarwal told PTI.