MapmyIndia Acquires 6% Stake In Iwayplus To Foray Into Indoor Navigation

Listed geotech major MapmyIndia’s has acquired a minority stake of about 6% for INR 2 Cr in indoor navigation startup Iwayplus.

The company said the investment is part of its plan to back innovative tech and expand its business portfolio, it said in a filing today.

Founded in 2022 by Vikas Upadhyay and Pulkit Sapra, Iwayplus builds indoor mapping and navigation solutions for large spaces such as hospitals, airports, malls, campuses and IT parks. The startup’s turnover for the fiscal year FY25 stood at INR 76 Lakh, a 4X jump from INR 19 Lakh in the prior fiscal.

Its products include indoor maps, real-time navigation systems, positioning technology and location-based services, supported by hardware like Bluetooth beacons and sensors.

For context, MapmyIndia builds digital maps and location intelligence products, providing  geospatial data and analytics directly to consumers, enterprises and governments. The investment allows the 

The minority stake acquisition strengthens its mapping stack by adding indoor navigation capabilities, enabling seamless outdoor-to-indoor navigation. 

This also deepens its relevance across airports, hospitals, campuses and smart cities, supports enterprise and government use cases, and aligns with its long-term shift toward a full-stack location intelligence platform.

Besides the indoor acquisition, the geotech major has been doubling down on acquiring stake in relevant businesses in recent times. Here’s a brief roundup of its portfolio:

• Gtropy Systems – MapmyIndia’s majority-owned telematics and IoT fleet management and GPS tracking solutions provider.
• SimDaaS Autonomy – It holds a minority stake in an AI and simulation tech startup addressing autonomous systems and ADAS.
• PT Terra Link Technologies – 40% joint venture with Hyundai AutoEver to deliver map-based solutions for automotive OEMs in Southeast Asia.
• Kaiinos Geo Spatial Technologies – Minority stake in a GIS-focused intelligent systems platform to support advanced geospatial tech.
• Indrones Solutions – A drone solutions startup that builds tech to enhance drone’s mapping and data capture capabilities.
• Zepto – Small equity stake in the quick commerce startup to broaden presence in fast-moving logistics ecosystems.

On the financial front, the company’s net profit declined 39% to INR 18.5 Cr in Q2 FY26 from INR 30.4 Cr in the year-ago quarter. However, operating revenue rose 10% YoY to INR 113.8 Cr during the quarter under review. 

Its shares declined 1.49% to INR 1,575 on BSE today.