MapmyIndia, , introduced on Monday that it has accomplished the acquisition of a 9.37% stake in SimDaaS Autonomy, a startup specializing in testing and simulation options for autonomous autos.
The corporate’s board of administrators initially authorized the funding in November 2024. MapmyIndia will contribute Rs 3 crore by a mixture of fairness shares and compulsorily convertible desire shares (CCPS). In line with a BSE submitting, Rs 2,194.25 was allotted to fairness shares, with the remaining invested in CCPS on the similar face worth.
Kanpur-based SimDaaS, based in 2023, has not raised any prior fairness funding, as per Tracxn knowledge. MapmyIndia said that the acquisition will improve its enterprise portfolio.
The announcement precedes MapmyIndia’s third-quarter outcomes, scheduled for launch on 29 January.
In December, the corporate confronted investor backlash over plans to speculate Rs 35 crore in a business-to-consumer (B2C) enterprise tied to outgoing CEO Rohan Verma. Critics argued that this construction would profit the promoter financially whereas CE Information Programs, MapmyIndia’s guardian firm, absorbed operational dangers.
Following widespread criticism, MapmyIndia reversed its choice and opted to not proceed with fairness or debt investments within the proposed enterprise.
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