TechTaffy

tech:

taffy

Ola Cabs Raises $210M

By TechTaffy Desk

Ola

SoftBank Internet and Media (SIMI), part of Japanese telecom and media giant SoftBank, is leading a $210 million investment along with other investors in ANI Technologies, the Indian company behind ‘Ola Cabs.’ The latest investments pegs the company at a $210 million valuation.

Ola, founded in 2011,is a transportation aggregator in India. Much like Uber, the company provides a marketplace connecting consumers and drivers via mobile apps, the web and call centers. Ola’s app now hosts more than 33,000 vehicles across 19 major cities in India. Nikesh Arora, SoftBank vice chairman and former Google executive, will be joining the board of ANI Technologies.

Morrison & Foerster acted as legal advisor and the Raine Group acted as financial advisor to SoftBank.

[Image courtesy: Ola Cabs]

Just in

Fundings

Rivos raises $250M

Santa Clara, Calif.-based Rivos, a RISC-V accelerated platform company focusing on data analytics and Generative AI, has raised $250 million in its Series A-3 funding round
Industry

IBM, Canada, and Quebec invest $137M to strengthen semiconductor industry

IBM, the Government of Canada, and the Government of Quebec announced agreements to develop the assembly, testing and packaging capabilities for semiconductor modules at IBM Canada's plant in Bromont, Quebec.
Around the web

Net neutrality is back: U.S. promises fast, safe and reliable internet for all — NPR

Consumers can look forward to faster, safer and more reliable internet connections under the promises of newly reinstated government regulations, writes Emma Bowman of NPR.
AI

AI is ‘a new kind of digital species,’ Microsoft AI chief says — Quartz

Mustafa Suleyman, chief executive of Microsoft AI, said during a talk at TED 2024 that AI is the newest wave of creation since the start of life on Earth, and that “we are in the fastest and most consequential wave ever,” writes Britney Nguyen in Quartz.
Around the web

It’s baaack! Microsoft and IBM open source MS-DOS 4.0 — ZDNet

Microsoft and IBM have joined forces to open-source the 1988 operating system MS-DOS 4.0 under the MIT License, writes Steven Vaughan-Nichols.