Hong Kong’s Beyond Ventures leads $3m round for indoor mapping startup Mapxus

Hong Kong-based VC fund Beyond Ventures announced that it is leading a US$3 million investment round for local indoor mapping tech provider Mapxus.

Photo credit: Citymalljo

Founded in 2018 by Maphive Technology, Mapxus uses universal multisensing, positioning, and AI to generate indoor maps. It works with various industry sectors, government bodies, nongovernmental organizations, and social enterprises.

The company also provides a seamless data integration service and updates Apple Maps using the Apple Indoor Map Data Format. It also developed and owns a compatible solution for the Android operating system and web interface.

According to a statement, Mapxus plans to use the new funds for research and development, sales, marketing, and operational functions. It also looks to extend its services into Singapore, Japan, Taiwan, Thailand, Malaysia, and the Philippines.

“We have a clear vision of how to create a smart city by working closely with government bodies, shopping malls, transport utilities, hospitals, and other entities. The idea is to facilitate creation of a barrier-free smart city and catalyze a variety of stakeholders to develop meaningful mobile applications that will solve problems for people with and without disabilities,” said Mapxus founder and CEO John Chan.

Apart from the monetary support, Beyond Ventures will also offer strategic advice for Mapxus and connect the company to potential clients and partners, Chan said.

The VC firm was established by Hong Kong principal investment company eGarden Ventures and Hony Capital, an investment management firm headquartered in Beijing. In 2017, Beyond Ventures co-led a US$40 million round for DNA-testing startup Prenetics with Alibaba.