Global Expansion On The Cards, But Our Focus Is On India: MapmyIndia CEO

SUMMARY

As MapmyIndia is India-centric and the country is an exciting market, a large part of our focus is on India: MapmyIndia CEO Rohan Verma

Speaking at The Makers’ Summit 2023, Verma said MapmyIndia is looking to enter regions that can provide differentiated opportunities for its product portfolio

MapmyIndia has already opened an office in South Korea and recently signed an MoU with one of the largest Korean logistics companies

While MapmyIndia is eyeing global expansion, it remains focused on the Indian market, the geotech company’s CEO and MD Rohan Verma said.

“Because we are India-centric, because we’re headquartered in India and because India is such an exciting market, I think a large part of our focus in the short-term is definitely on India. But when we look at the global market, there are opportunities for us to expand…,” Verma said at Inc42’s The Makers Summit 2023.

The CEO said that MapmyIndia works with Indian multinational corporations as well as global companies which have India as one of their markets, and this would facilitate the geotech company’s global expansion.

“So we’re looking to replicate a lot of business which we do in India with them in other markets,” Verma said. He added that the company’s portfolio consists of products which can be deployed anywhere in the world.

“We’re looking at markets where we can find differentiated opportunities for us and in our product portfolio there’s automotive tech, map APIs, SaaS, drones and drone-based solutions, and IoT and geospatial solutions. So different products, different markets,” Verma said.

MapmyIndia has already opened an office in South Korea, said Verma, adding that the geotech startup has long-standing relationships with Korean companies and recently signed a Memorandum of Understanding (MoU) with one of the largest logistics companies in the East Asian nation.

“We look forward to taking our solutions to Korea and the APAC region,” said Rohan Verma.

Earlier in the conversation, the MapmyIndia CEO said the company plans to expand its B2C offerings to take on Google in FY24.

It has developed a marketing playbook for the B2C segment and going ahead, its strategy will depend on the outcome of Google’s appeal against the penalty slapped by the Competition Commission of India (CCI) on it.

According to Verma, the company has two key offerings for B2C users – the Mappls app and the Mappls gadget ecosystem. “One is the Mappls app, which has options far beyond Google Maps in terms of navigation, search and hyperlocal discovery, and a plethora of Mappls gadgets.”