NEW DELHI: Homegrown mapping main MapMyIndia on Monday accused IPO-bound Ola Electric of allegedly stealing its data and breaching licence agreements to create Ola Maps. “You have duplicated our client’s API (application programming interface) and SDKs (software development kits) from proprietary sources belonging to our client to build OLA Maps. It is firmly stated that our client’s exclusive data has been copied/derived by you to further your illegal motive and for your unjust commercial gains,” a authorized discover despatched by CE Info Systems mentioned, based on reviews.
CE Info Systems, the mum or dad firm of MapMyIndia,mentioned the latter “copied” MapMyIndia’s proprietary data by co-mingling and reverse engineering the licensed product.
In a press release, Ola Electric spokesperson mentioned, “We would like to state unequivocally that these allegations are false, malicious and misleading. Ola Electric stands by the integrity of its business practices. We will suitably respond to the notice shortly.”
Ola Electric, a Bengaluru-based electrical two-wheeler producer, introduced its IPO worth vary of Rs 72-76 per share, set for August 2-6. The IPO features a contemporary subject value Rs 5,500 crore and a suggestion on the market of 8.49 crore shares. Fund utilization plans embrace increasing battery manufacturing capability and repaying loans.
Ola Electric Mobility launched its IPO from August 2-6, that includes a contemporary subject value Rs 5,500 crore and an OFS by promoters, together with founder Bhavish Aggarwal. Funds will develop cell manufacturing capability, R&D, and debt reimbursement. The Ola Gigafactory is ready for phased expansions, and new electrical bikes are deliberate for 2026 supply.
