India’s leading advanced digital maps provider MapmyIndia on Wednesday announced it is acquiring 26.37 per cent stake in startup Kogo Tech Labs to develop a travel and hyper-local platform integrated with maps and navigation for automotive players.
By integrating Kogo’s gamified travel, outdoors and hyper-local content, community and commerce platform into MapmyIndia’s Mappls brand, it will enable automotive original equipment manufacturers (OEMs) in India and globally to increase consumer engagement, brand loyalty and in-vehicle commerce monetisation opportunities.
MapmyIndia has invested $1.25 million to acquire 26.37 per cent stake in KOGO, with option to raise stake to 50 per cent in two years.
KOGO’s solutions are integrated in Bajaj Auto KTM, Mahindra Classic Legends Yezdi, and MG Motor Hector.
“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 eco-system, brands, businesses and government,” said Raj K Gopalakrishnan, Co-Founder and CEO, KOGO.
MapmyIndia Mappls offers global solutions including hyper-local maps and rich and real-time places data.
Rakesh Verma, Chairman and Managing Director, MapmyIndia said that the partnership with KOGO will “boost and enable the next-generation of travel, outdoors, hyper-local and on-the-go experiences and use cases for everyone”.
In July, MapmyIndia released the country’s first and fully-indigenous 360-degree panoramic street view and 3D Metaverse Maps Service.
The service is available on free mapping portal Mappls.com on the web for mobiles and desktops and the Mappls App on Android and iOS.