Ola acqui-hires startup Pikup.ai

Acqui-hiring refers to buying out a company for skills and expertise of its staff

ola-ban-karnataka Representational image | Reuters

Ride hailing app Ola on Tuesday said it has acqui-hired Pikup.ai, an artificial intelligence startup based in Bengaluru.

Co-founded by Inder Singh and Ritwik Saikia, Pikup.ai uses autonomous technologies like artificial intelligence, computer vision and sensor fusion to provide seamless AI-powered solutions for businesses.

Acqui-hiring refers to buying out a company primarily for skills and expertise of its staff, rather than for products or services it supplies.

As part of the deal, the team at pikup.ai will join Ola, a statement said.

Ola is increasing its focus on using advanced analytics and deep technology to build futuristic mobility solutions, it added.

It will invest in early-stage businesses, acquisitions as well as acqui-hires across artificial intelligence, machine learning, computer vision and other emerging areas of deep technology, Ola said.

Earlier this year, Ola had announced its intent to set up an Advanced Technology Centre in the San Francisco Bay area to focus on developing next-generation technologies in mobility like electric, connected and autonomous vehicles.

"We are very excited to welcome the Pikup.ai team to Ola and we look forward to co-creating innovative technology that will help redefine the mobility experience in the times to come," Ola co-founder and chief technology officer Ankit Bhati said.