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Ola Founder Bhavish Aggarwal Registers New Company, Expected To Focus On AI
It has been speculated that the new startup will help in developing and supporting the operations of Ola Electric
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Bhavish Aggarwal, the founder and CEO of Ola Electric, is expected to launch a new company that would focus on computer programming and artificial intelligence. As per media reports, Aggarwal has registered a new company named Krutrim SI Designs along with Krishnamurthy Venugopala Tenneti.
It may be noted that Tenneti is also one of the board members of ANI Technologies, which owns Ola Cabs and Ola Electric.
As per the data of the Ministry of Corporate Affairs, the date of incorporation is 15 April, 2023, with a paid-up capital of Rs 1,00,000. It has been speculated that the new startup will help in developing and supporting the operations of Ola Electric.
The development happens as Ola Electric is almost finished obtaining money for its expansion goals and other business requirements. The business is gearing up to go public the following year. Ola Electric's latest fundraising effort comes amid anticipations that the business will soon break even and turn a profit.
Aggarwal recently travelled to Taiwan, the main manufacturing centre for the chips used in AI computer systems, and has talked of producing EV chips in India. China, North Korea, and Japan have been the sources of semiconductors for Indian EV companies.