MapmyIndia Acquires 9.37% Stake in AI Startup SimDaaS Autonomy

MapmyIndia

Digital mapping and geospatial companies firm MapmyIndia has acquired a 9.37% fairness stake in Kanpur-based startup SimDaaS Autonomy, in line with experiences. The deal, valued at roughly INR 3 crore, entails each fairness funding and choice shares.

The partnership with SimDaaS aligns with MapmyIndia’s technique to remain forward within the geo-technology house. With this funding, the corporate intends to combine superior AI and simulation instruments to reinforce its choices, significantly within the automotive sector. The collaboration is anticipated to help the creation of extra superior options for autonomous driving and security applied sciences.

MapmyIndia, based in 1995 by Rakesh Verma and Rashmi Verma, is understood for its complete suite of navigation and location-based companies. It caters to industries corresponding to logistics, automotive, and shopper companies. SimDaaS Autonomy, established in 2023 and based mostly in Kanpur, focuses on growing simulation applied sciences for autonomous methods and superior driver-assistance methods (ADAS).

The startup is led by Bharat Lohani, a director with educational ties to IIT Kanpur. Its simulation-driven improvement platforms purpose to reinforce the design, testing, and validation of autonomous autos.

Alongside this strategic acquisition, MapmyIndia not too long ago witnessed important organisational adjustments. Rohan Verma, CEO of MapmyIndia and son of the corporate’s founders, introduced his resignation to deal with a brand new business-to-consumer (B2C) enterprise. Initially, MapmyIndia had deliberate to spend money on Verma’s new challenge, however the board determined towards it after receiving suggestions from traders. This choice led to a 16% surge in MapmyIndia’s inventory, indicating robust investor confidence within the firm’s future route.

The acquisition of SimDaaS comes at a time when demand for autonomous methods and AI-driven options is accelerating. By leveraging SimDaaS’s experience in simulation applied sciences, MapmyIndia is poised to develop its capabilities within the rising ADAS and autonomous car markets.

MapmyIndia x Vehicles

Curiously, MapmyIndia, entered right into a strategic collaboration with Qualcomm Applied sciences to advance ‘Make in India’ options for the automotive sector. The partnership goals to combine Qualcomm’s Snapdragon Digital Chassis options with MapmyIndia’s experience to ship connectivity options for each four-wheelers and two-wheelers.

Equally, MapmyIndia additionally partnered with Bengaluru-based startup KOGO AI to launch India’s first common voice assistant for the automotive trade. KOGO AI is constructing a customisable AI working system, KOGO OS, which might construct, handle, and deploy varied AI brokers throughout industries.

“Not like Siri and Alexa, these brokers not solely offer you entry however can even function apps and companies in your behalf,” mentioned Raj Ok Gopalakrishnan, co-founder and CEO of Kogo Tech Labs, in an unique interplay with AIM.

Curiously, in a strategic transfer to draw builders and companies, Google not too long ago introduced a 70% discount within the pricing of its Maps APIs. This important value lower intensifies competitors within the digital mapping sector, difficult firms corresponding to MapmyIndia.

Concurrently, MapmyIndia’s CEO, Verma, has brazenly criticised Ola’s mapping initiatives, referring to them as a “gimmick.” He expressed issues in regards to the high quality and reliability of Ola’s mapping companies and cautioned customers to be cautious of potential inaccuracies.

The submit MapmyIndia Acquires 9.37% Stake in AI Startup SimDaaS Autonomy appeared first on AIM Media Home.

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