MapmyIndia Acquires 9.37% Stake in AI Startup SimDaaS Autonomy
Digital mapping and geospatial services company MapmyIndia has acquired a 9.37% equity stake in Kanpur-based startup SimDaaS Autonomy, according to reports. The deal, valued at approximately INR 3 crore, involves both equity funding and preference shares. The partnership with SimDaaS aligns with MapmyIndia’s strategy to stay ahead in the geo-technology space. With this investment, the company intends to integrate advanced AI and simulation tools to enhance its offerings, particularly in the automotive sector. The collaboration is expected to support the creation of more advanced solutions for autonomous driving and safety technologies. MapmyIndia, founded in 1995 by Rakesh Verma and Rashmi Verma, is known for its comprehensive suite of navigation and location-based services. It caters to industries such as logistics, automotive, and consumer services. SimDaaS Autonomy, established in 2023 and based in Kanpur, focuses on developing simulation technologies for autonomous systems and advanced driver-assistance systems (ADAS). The startup is led by Bharat Lohani, a director with academic ties to IIT Kanpur. Its simulation-driven development platforms aim to enhance the design, testing, and validation of autonomous vehicles. Alongside this strategic acquisition, MapmyIndia recently witnessed significant organisational changes. Rohan Verma, CEO of MapmyIndia and son of the company’s founders, announced his resignation to focus on a new business-to-consumer (B2C) venture. Initially, MapmyIndia had planned to invest in Verma’s new project, but the board decided against it after receiving feedback from investors. This decision led to a 16% surge in MapmyIndia’s stock, indicating strong investor confidence in the company’s future direction. The acquisition of SimDaaS comes at a time when demand for autonomous systems and AI-driven solutions is accelerating. By leveraging SimDaaS’s expertise in simulation technologies, MapmyIndia is poised to expand its capabilities in the growing ADAS and autonomous vehicle markets. MapmyIndia x Automobiles Interestingly, MapmyIndia, entered into a strategic collaboration with Qualcomm Technologies to advance ‘Make in India’ solutions for the automotive sector. The partnership aims to integrate Qualcomm’s Snapdragon Digital Chassis solutions with MapmyIndia’s expertise to deliver connectivity solutions for both four-wheelers and two-wheelers. Similarly, MapmyIndia also partnered with Bengaluru-based startup KOGO AI to launch India’s first universal voice assistant for the automotive industry. KOGO AI is building a customisable AI operating system, KOGO OS, which can build, manage, and deploy various AI agents across industries. “Unlike Siri and Alexa, these agents not only give you access but can also operate apps and services on your behalf,” said Raj K Gopalakrishnan, co-founder and CEO of Kogo Tech Labs, in an exclusive interaction with AIM. Interestingly, in a strategic move to attract developers and businesses, Google recently announced a 70% reduction in the pricing of its Maps APIs. This significant price cut intensifies competition in the digital mapping sector, challenging companies such as MapmyIndia. Concurrently, MapmyIndia’s CEO, Verma, has openly criticised Ola’s mapping initiatives, referring to them as a “gimmick.” He expressed concerns about the quality and reliability of Ola’s mapping services and cautioned users to be wary of potential inaccuracies.
With this, MapmyIndia aims to integrate AI-driven simulation and autonomy solutions to enhance its geospatial and automotive technologies.
With this, MapmyIndia aims to integrate AI-driven simulation and autonomy solutions to enhance its geospatial and automotive technologies.
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["AI", "Aim", "RAG", "R", "Go", "Git", "API", "GAN", "ViT", "startup"]
As a rare blend of engineering, MBA, and journalism degree, Vandana Nair brings a unique combination of technical know-how, business acumen, and storytelling skills to the table. Her insatiable curiosity for all things startups, businesses, and AI technologies ensures that there's always a fresh and insightful perspective to her reporting. She now hosts her tech segment 'Point Break' on AIM Tv.