MapmyIndia, an digital maps provider to invest $1.25 million to acquire a 26.37 per cent stake in Kogo Tech Labs to develop hyperloop and travel platforms integrated with maps and navigation for automotive players, with the option to raise the stake to 50 per cent in two years.
The company claims that the integrated platform will help automotive original equipment manufacturers (OEMs) increase engagement, brand loyalty and in-vehicle commerce monetisation opportunities.
Rakesh Verma, Chairman and Managing Director, MapmyIndia said, "The partnership with KOGO will "boost and enable the next-generation of travel, outdoors, hyper-local, and on-the-go experiences and use cases for everyone."
In July, MapofIndia launched the country’s first and fully-indigenous 360-degree, all-around street view and 3D Metaverse Maps Service. Users can access the service via the free mapping portal Mappls.com on the web for mobiles and desktops, as well as the Mappls App for Android and iOS.