SUMMARY
With the investment, MapmyIndia will also give KOGO access to its Mappls technology suite
Launched in 2020, KOGO is a gamified social travel commerce platform where users can earn a coin, called KOGOCOIN as they travel
The integration of KOGO into Mappls will increase consumer engagement, brand loyalty and in-vehicle monetisation opportunities for automotive OEMs
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Listed geotech startup MapmyIndia has invested INR 10 Cr ($1.25 Mn) to acquire a 26.37% stake in gamified social travel commerce platform KOGO, with an option to raise the stake to 50% in two years.
With this investment, MapmyIndia will also give KOGO access to its Mappls technology suite, which was recently integrated with the Government of India’s Unified Logistics Interface Platform (ULIP).
This is MapmyIndia’s second investment in September. Earlier this month, the geotech startup invested in fuel aggregator startup Nawgati at a valuation of $4 Mn.
Launched in 2020, KOGO is a gamified social travel commerce platform where users can earn a coin, called KOGOCOIN, as they travel. The in-app currency can then be used on hotels, experiences, services, accessories and stores across the world.
MapmyIndia Mappls offers solutions including hyperlocal maps and real-time places data, automotive N-CASE technologies (Navigation-enabled Connected Vehicle, Autonomous Safety & ADAS & Autonomous Safety, Shared and Electric Mobility platforms), consumer-facing apps and more.
The listed geotech startup claims to have millions of vehicles in India with Mappls built-in.
The integration of KOGO’s gamified travel, outdoors and hyperlocal content into Mappls will increase consumer engagement, brand loyalty and in-vehicle monetisation opportunities for automotive OEMs, MapmyIndia said in a statement.
KOGO’s automotive solutions are integrated into Bajaj Auto KTM, Mahindra Classic Legends Yezdi, and MG Motor Hector.
The app also has a marketplace which accepts KOGOCOIN. This marketplace has more than 800K+ entities and KOGO will use the investment from MapmyIndia to expand the marketplace.
Founders of KOGO, Raj K Gopalakrishnan and Praveen Kochhar, said that KOGO will benefit from the integration with Mappls and the maps, navigation, N-CASE and geospatial technologies that come with it.
MapmyIndia said that the partnership will allow the listed startup to access a multi-billion dollar market opportunity and deliver on the needs of people in better ways.
Mappls Integrated With Unified Logistics Interface Platform
Last week, MapmyIndia’s Mappls consumer app, logistics tech, and APIs were integrated with the ULIP. It was unveiled during the launch of the National Logistics Policy. The solutions are both consumer-faced and enterprise-faced, opening two separate revenue streams for the listed startup.
With logistics tech and APIs, MapmyIndia will allow logistics operators to digitise their operations, including GPS and NavIC IoT for goods movement tracking, fleet and field workforce and asset management.
Further, the consumer app will also reduce accidents by showing route summaries and giving real-time alerts to drivers about upcoming speed limits, speed cameras, speed breakers, sharp curves, accident-prone zones and traffic signals, MapmyIndia said.
Shares of CE Infosystems Ltd, the parent of MapmyIndia, closed 1.44% lower at INR 1,356 on the BSE on Wednesday.
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