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Indian geotech acquires 9.37% stake in AI startup SimDaas
Geotechnology company MapmyIndia has acquired a 9.37% stake in Kanpur-based AI startup SimDaas Autonomy for around 3 crore rupees (US$347,067).
The deal, finalized on Jan. 24, includes an equity infusion and the issuance of 13,671 compulsorily convertible preference shares, each valued at 2,194.25 rupees (US$25.39), totaling 2.99 crore rupees (US$345,910).
SimDaas Autonomy, founded in 2023 by Sunit Arya, specializes in simulation technologies for autonomous systems and advanced driver-assistance systems (ADAS).
As of 11:19 AM on Jan. 27, shares of MapmyIndia were trading at 1,661 rupees (US$19.22) on the Bombay Stock Exchange.
Recent MapmyIndia developments
| Timeline |
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25-Sep-2023 🗺️ MapmyIndia’s shares outperform Indian tech peers, but battle with Google looms
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12-Aug-2014 🗺️ MapmyIndia, Pioneer join hands to create in-car entertainment system that doubles as navigation assistant
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03-Dec-2013 📍 MapMyIndia helps you pinpoint friends with new ReachMe app
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29-Apr-2013 🗺️ MapmyIndia Now Covers Over 10 Million Locations, 600,000 Villages, and 4,700 Cities in India
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26-Sep-2012 🗺️ MapMyIndia’s Don’t Panic App Will Solve Your iOS 6 Maps Woes (If You’re in India)
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