- Funds USD 1.25 Mn (INR 10 Cr) to acquire 26.37% stake in KOGO, with option to raise stake to 50% in 2 years
- Partnership to deliver integrated solutions & apps globally to Automotive OEMs, consumers, the travel eco-system, brands, businesses & government
National, 21st September 2022: MapmyIndia (C.E. Info Systems Ltd.), India’s leader, and global provider of, advanced digital maps and deep-tech products & platforms, announced it is acquiring 26.37% stake in Kogo Tech Labs Private Limited, a cutting-edge start-up aiming to build the world’s largest travel & hyper-local discovery, recommendations, commerce, social and gamified platform, for USD 1.25 Mn (INR 10 Cr), with option to raise stake to 50% in 2 years.
MapmyIndia Mappls offers global solutions including hyper-local maps and rich & real-time places data, automotive N-CASE technologies (Navigation-enabled Connected Vehicle, Autonomous Safety & ADAS & Autonomous Safety, Shared and Electric Mobility platforms), consumer-facing apps and more. Millions of 4-wheelers, 2-wheelers and new-age Electric Vehicles and their companion apps are built-in with MapmyIndia Mappls N-CASE maps & technology solutions. By integrating Kogo’s gamified travel, outdoors and hyper-local content, community & commerce platform into the Mappls N-CASE suite, MapmyIndia Mappls will now enable Automotive OEMs in India and globally to increase consumer engagement, brand loyalty and in-vehicle commerce monetisation opportunities.
Launched in February 2020, with its strong community-building and engagement platform for travel, KOGO has received significant interest from Automotive OEMs, who can drive post sales engagement & build communities and engagement around their brands. KOGO is a gamified social travel commerce platform where users earn KOGOCOIN as they step out and travel, and can spend these on Hotels, Experiences, Services, Accessories and stores on the KOGO Marketplace. The KOGO marketplace has over 8,00,000+ Hotels, Experiences, Stores and service providers across the world and continues to expand its network to maximize spend & burn opportunities for its users. Subscribers of KOGO earn & burn 3x more on their trips, experiences and adventures. This currency can be spent on KOGO’s large network of in-app and in-platform bookings, services and marketplace. KOGO’s solutions already integrated into Bajaj Auto KTM, Mahindra Classic Legends Yezdi, and MG Motor Hector.
Raj K Gopalakrishnan, Co-Founder & CEO, KOGO, and Praveer Kochhar, Co-Founder, said “We are happy to have MapmyIndia Mappls as our strategic investors and partners as we build on our vision to offer the world’s largest social travel commerce platform. Our goal is to ensure that KOGO is the go-to platform for Automotive OEMs that give their users an experience of connecting with like-minded people via our community and discovering new places and experiences in an engaging and unique gamified format. KOGO will benefit through integration with MapmyIndia Mappls best-in-class maps, navigation, N-CASE & geospatial technologies and IoT to help us build something unique and working with them on go-to-market will help us scale rapidly. There is a lot more planned as part of the partnership for the future, that will also deliver integration solutions & apps to consumers, the travel ecosystem, brands, businesses and government. We are excited to progressively unveil our vision for travel, outdoors, hyper-local, social and gamification, in the time to come.”
Rakesh Verma, Chairman and Managing Director, MapmyIndia and Rohan Verma, CEO & Executive Director, said “Building world-class digital maps & technologies and delivering their positive benefits to everyone through infinite use cases has been our core mission and conviction in India since the last 27 years through MapmyIndia, and now globally, through our global platform and brand, Mappls. We are excited to welcome and join hands with KOGO to boost and enable the next-generation of travel, outdoors, hyper-local and on-thego experiences and use cases for everyone. Not just does this strategic investment and business partnership deepen MapmyIndia’s Automotive OEM portfolio and open up larger multi-billion dollar addressable markets for the company, but it helps us deliver on the innate needs and aspiration of all people to travel and experience the world in better and more ways. We are very excited about KOGO’s prospects to grow into a very large business and happy to partner with Raj and Praveer, two visionary, passionate and seasoned entrepreneurs, to build something wonderful for the world.”
About MapmyIndia & Mappls (C.E. Info Systems Ltd)
www.mapmyindia.com & www.mappls.com C.E. Info Systems Ltd (NSE: MAPMYINDIA; BSE: 543425) is India’s leading advanced digital maps and deep-tech company, popularly known in India as MapmyIndia and globally as Mappls. The company offering proprietary digital maps as a service ("MaaS"), software as a service ("SaaS") and platform as a service ("PaaS"), including its advanced digital map data, software products, platforms, application programming interfaces (“APIs”), IoT and solutions to new-age tech companies, large businesses, automotive OEMs, government organisations, developers and consumers. The company has served more than 2000 enterprise customers since inception. The company pioneered digital mapping in India in 1995 and has earned its market leadership position in this industry and built a strong moat by capitalizing on our early mover advantage, developing proprietary and integrated technologies, full stack product offerings, continuous innovation and robust sustainable business model. The company also built India’s very first internet mapping platform and portal, MapmyIndia.com (now called Mappls.com) in 2004. The company’s free Mappls app for consumers provides the best and fully indigenous maps, navigation, safety, hyper local and IoT gadget-enabled experience for Indian users.
MapmyIndia has built India’s most comprehensive, accurate, feature-rich and continuously updated digital map data product down to address and urban building level detail pan India, covering all towns, villages, and the entire road network of the country. The company is building not just 2D maps, but also 3D (with landmarks, terrains and city models), 4D (updating in near real-time), HD (high-definition and high-accuracy), RealView (geo-tagged 360 degree panoramas, videos and photos representing actual ground reality), and hyperlocal geo-demographics data-rich maps, to continuously evolve its AI-powered Digital Metaverse Twin of the Real World. The company is also building digital maps for other regions in the world, and has integrated global maps for over 200 countries into its Mappls platform. The company’s platform provides extensive and comprehensive functionalities and ever expanding set of use cases, including mapping, location and navigation, geospatial data analytics, GIS (geospatial information systems) and AI, GPS tracking and IoT-based fleet management, logistics optimisation and workforce management, drone-based solutions, developer APIs, N-CASE solution suite (for Navigation, Connected vehicle telematics and services, ADAS safety i.e. advanced driving assistance systems, Shared and Electric) for Automotive & Mobility Tech (A&M), and Consumer tech and Enterprise digital transformation solution suite (C&E)
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