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Ola Electric promoter ANI Technologies under ED scanner over copyright infringement case
Inc42
·
1y ago
Medial
Ola Electric's parent company ANI Technologies is under investigation by the Enforcement Directorate in connection with a copyright infringement case involving music company Lahari. The issue came to light in Ola Electric's draft red herring prospectus (DRHP) filed with SEBI. Lahari had filed an FIR against ANI Technologies for playing songs on Ola Play devices without a valid license, which was later settled in August 2022. ED has issued summons to ANI Technologies seeking information about the settlement and copyright licenses. Ola Electric is also facing 169 consumer grievance cases seeking damages of INR 4.47 crore.
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Ola scooters give a lift to group firm's bike taxi business
Livemint
·
1y ago
Medial
Bhavish Aggarwal-led Ola Electric has sold over 8,200 scooters to ANI Technologies Ltd, its promoter group company. ANI Technologies is planning to launch and expand its electric bike taxi service in various Indian cities. Ola Electric's draft papers for an IPO do not mention this related-party transaction. Ola Electric has sold at least 12,000 scooters to ANI Technologies and its subsidiaries between April 2022 and December 2023. Ola Electric accounted for 40% of electric scooters sold in India in December.
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Ola applies for licence to operate e-bike taxis in Karnataka
Economic Times
·
1y ago
Medial
ANI Technologies, the parent company of Ola, has applied for a license to operate an electric bike taxi service in Bengaluru and other towns in Karnataka. The state allows EV two-wheelers to be used as bike taxis under its Electric Bike Taxi Scheme, 2021. Ola's founder, Bhavish Aggarwal, recently announced the re-launch of Ola Bike, a two-wheeler taxi service that will use electric scooters. The move is aimed at expanding ride-hailing services in smaller towns and promoting environmentally friendly transportation options.
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Jensen Huang-led Nvidia faces copyright infringement lawsuit over AI training
IndianStartupNews
·
1y ago
Medial
Authors Brian Keene, Abdi Nazemian, and Stewart O'Nan have filed a lawsuit against Nvidia, alleging that the tech company used their copyrighted works without permission to train its NeMo AI platform. The dataset, consisting of nearly 200,000 books, was removed in October after copyright infringement claims. Nvidia's NeMo AI is a platform for generative AI technologies, allowing the creation of new content from various inputs. The authors are seeking unspecified damages for all US authors whose works were used to train NeMo over the past three years. This case highlights the ongoing issue of copyright infringement in AI development.
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Sarah Silverman’s lawsuit against OpenAI partially dismissed
The Verge
·
1y ago
Medial
A California court has dismissed several claims in a copyright case against OpenAI filed by authors, including Sarah Silverman, over allegations that OpenAI's ChatGPT is infringing on their work. The court rejected claims of vicarious infringement, Digital Millennium Copyright Act (DMCA) violations, negligence, and unjust enrichment. However, the court upheld the claim that OpenAI used the authors' work for commercial profit without their permission, leaving the main complaint of direct copyright infringement unresolved. The authors have the opportunity to amend their original complaint by March 13th. OpenAI is facing multiple copyright infringement lawsuits from various authors.
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Exclusive: Ola Consumer Sets The IPO Ball Rolling, Turns Into A Public Company
Inc42
·
8m ago
Medial
ANI Technologies Pvt Ltd, the parent company of Ola Consumer, has received shareholder approval to change its name to ANI Technologies Ltd. The decision was made in order to prepare for a future public offering. Ola Consumer, previously known as Ola Cabs, underwent a name change in August as part of its efforts to expand into new verticals beyond ride-hailing.
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ANI vs OpenAI: Delhi HC to hear India’s first GenAI copyright suit on 21 Feb
Livemint
·
6m ago
Medial
The Delhi High Court will start hearings in February 2024 on ANI Media's lawsuit against OpenAI, alleging it used ANI's copyrighted content to train its language models without permission. This case could significantly impact AI regulation and copyright laws in India. ANI seeks ₹2 crore in damages and an injunction against OpenAI. The case's outcome might set precedents for AI-related copyright disputes and influence India's future AI legislation and international governance.
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Ola Cabs CEO Hemant Bakshi resigns; company to layoff 200 employees
Economic Times
·
1y ago
Medial
Ola Cabs CEO Hemant Bakshi is reportedly leaving the company after just three months. The ride-hailing firm is also planning a restructuring that will result in around 200 job cuts. These developments come as Ola prepares to file draft listing papers in the next three months. Ola Electric has already filed draft papers for an IPO, waiting for regulatory approval. Ola Cabs founder Bhavish Agarwal remains the chairman. In January, Bakshi announced that ANI Technologies, the parent company, had turned profitable with a growth in revenue.
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Vanguard slashes Ola valuation by 29% to below $2 billion
Economic Times
·
1y ago
Medial
US investment major Vanguard has reduced the fair value of Ola's parent company, ANI Technologies, to $1.88 billion, a 29% decrease from its previous valuation. This marks a significant decline in Ola's valuation, which last raised funds in December 2021 at a valuation of $7.3 billion. Vanguard's revision comes amidst similar valuation adjustments for other Indian consumer internet companies by US investors. Ola did not respond to queries regarding the valuation adjustment. ANI Technologies recently reported a 65% reduction in its standalone loss for fiscal year 2023. Ola's new CEO, Hemant Bakshi, emphasized fleet-wide electrification and premiumization as the company's growth drivers. Ola Electric, the company's associate firm, is preparing for an IPO with a projected valuation of $7-8 billion.
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Ola Electric scooter fire being investigated in southern Kerala
Economic Times
·
2y ago
Medial
An Ola Electric scooter caught fire in southern Kerala, and the incident is currently under investigation. This fresh incident adds to concerns over the safety of electric scooters. Authorities are examining the case to determine the cause of the fire and ensure the safety of electric vehicles on the roads. This is the second known incident of an Ola S1 range scooter catching fire. Investigations are on into the incident in Nedumangad in Kerala.
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Ola's Battery Unit Gets IFCI Notice for Missing PLI Targets: Will It Pay Penalty Now?
OutlookIndia
·
5m ago
Medial
Ola Cell Technologies, a unit of Ola Electric Mobility, received a notice from IFCI for not meeting the Production Linked Incentive (PLI) Advanced Chemistry Cell (ACC) scheme targets. IFCI highlighted a missed milestone under this scheme. As a result, Ola Electric faces a daily penalty, impacting its eligibility for incentives. Ola Electric has begun trial production and aims to become the first to manufacture lithium-ion cells in India under this scheme.
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