26.37% Kogo acquired by MapmyIndia to develop navigation for auto industry
MapmyIndia, the largest provider of sophisticated digital maps in India, stated that it was buying kogo Tech Labs for $26.37 million in order to create a travel and hyper-local platform with integrated maps and navigation for the car industry.
MapmyIndia’s Mappls brand will be able to help automotive original equipment manufacturers (OEMs) in India and around the world increase consumer engagement, brand loyalty, and in-vehicle commerce monetisation opportunities by integrating kogo’s gamified travel, outdoors, and hyper-local content, community, and commerce platform.
With an option to increase the holding to 50% in two years, MapmyIndia committed $1.25 million to purchase a 26.37% interest in Kogo.
Bajaj Auto KTM, Mahindra Classic Legends Yezdi, and MG Motor Hector all include kogo’s technologies.
“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.
Global solutions are provided by MapmyIndia Mappls, providing hyper-local maps and comprehensive and up-to-date location data.
The collaboration with kogo, according to MapmyIndia Chairman and Managing Director Rakesh Verma, would “enhance and allow the next generation of travel, outdoors, hyper-local, and on-the-go experiences and use cases for everyone.”
The first 360-degree street view and 3D Metaverse Maps Service in India were made available by MapmyIndia in July.
Both the Mappls App for Android and iOS as well as the free online mapping portal Mappls.com offer the service.
