Ola, an Indian cab-hailing service, has launched a new car entertainment feature called "Ola Play" which allows passengers to listen to their choice of music. The feature is aimed at attracting mostly business travelers who use Ola Prime, its line of midsized sedans.

This new move by Ola to woo riders with music can be seen as a bid to outmanoeuver global giant Uber in the fast-growing market where both the cab companies are fighting a pitched battle to retain their market share.

Since Uber sold its China operations to Didi Chuxing in August, the company has completely extracted itself from the costly competition. Having freed up funds to focus on India, Uber is now a bigger threat to Ola in the second largest market outside the United States.

In an interview with Reuters, Ola Co-Founder and CEO Bhavish Aggarwal abstained from commenting on Ola's fundraising efforts but said Indian market is a playground for multiple players.

"Mobility market, in general, is so large in India. There is space for different kinds of players," Aggarwal said. "I don't feel that the market's capping out anytime soon." Taking a dig at Uber, he added that bringing an American concept to India is not going to work out well in the future.

Backed by Japan's SoftBank Group and China's Didi Chuxing among others, Ola is valued at more than $5 billion after raising $1.3 billion in funding. According to a source close to the company, it is looking to raise another $1 billion this year.

The new Ola Play feature will allow passengers to play songs from Apple Music, Sony Liv and other platforms via their smartphones. Third-party developers will also be able to develop apps for Ola Play. Entertainment, shopping, and tourism apps will be among the first to be featured.