NEW DELHI: Homegrown mapping major 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 legal notice sent by CE Info Systems said, according to reports.
CE Info Systems, the parent company of MapMyIndia,said the latter “copied” MapMyIndia’s proprietary data by co-mingling and reverse engineering the licensed product.
In a statement, Ola Electric spokesperson said, “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 electric two-wheeler manufacturer, announced its IPO price range of Rs 72-76 per share, set for August 2-6. The IPO includes a fresh issue worth Rs 5,500 crore and an offer for sale of 8.49 crore shares. Fund utilization plans include expanding battery manufacturing capacity and repaying loans.
Ola Electric Mobility launched its IPO from August 2-6, featuring a fresh issue worth Rs 5,500 crore and an OFS by promoters, including founder Bhavish Aggarwal. Funds will expand cell manufacturing capacity, R&D, and debt repayment. The Ola Gigafactory is set for phased expansions, and new electric motorcycles are planned for 2026 delivery.