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MapmyIndia Acquires 9.37% Stake in SimDaaS

The company’s board of directors initially approved the investment in November 2024.

MapmyIndia, , announced on Monday that it has completed the acquisition of a 9.37% stake in SimDaaS Autonomy, a startup specializing in testing and simulation solutions for autonomous vehicles.

The company’s board of directors initially approved the investment in November 2024. MapmyIndia will contribute Rs 3 crore through a combination of equity shares and compulsorily convertible preference shares (CCPS). According to a BSE filing, Rs 2,194.25 was allocated to equity shares, with the remaining invested in CCPS at the same face value.

Kanpur-based SimDaaS, founded in 2023, has not raised any prior equity funding, as per Tracxn data. MapmyIndia stated that the acquisition will enhance its business portfolio.

The announcement precedes MapmyIndia’s third-quarter results, scheduled for release on 29 January.

In December, the company faced investor backlash over plans to invest Rs 35 crore in a business-to-consumer (B2C) venture tied to outgoing CEO Rohan Verma. Critics argued that this structure would benefit the promoter financially while CE Info Systems, MapmyIndia’s parent company, absorbed operational risks.

Following widespread criticism, MapmyIndia reversed its decision and opted not to proceed with equity or debt investments in the proposed venture.

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