MapmyIndia CEO Rohan Verma to step down, to launch new B2C venture

Homegrown digital mapping company MapmyIndia announced that Rohan Verma will step down as CEO and whole-time director in March 2025.

Following his departure, Verma will take on an executive role in a new business-to-consumer (B2C) technology venture starting April 1, 2025.  

The new B2C venture, which focuses on consumer technology, will receive significant backing from MapmyIndia.

The company will invest Rs 35 crore in compulsorily convertible debentures (CCDs) and an additional Rs 10 lakh to acquire a 10% equity stake in the venture.  

Investments in tech-driven startups

The MapmyIndia board approved other strategic investments to strengthen its portfolio in cutting-edge technology sectors:  

1. SimDaaS Autonomy: A  Rs 3 crore investment in the form of equity shares and compulsorily convertible preference shares (CCPS) will secure a 9.37% stake in the startup. SimDaaS is engaged in simulation-driven development for autonomous systems, including autonomous vehicles and advanced driver assistance systems (ADAS).
2. Kaiinos Geo Spatial Technologies: MapmyIndia's board also approved an investment of Rs 2 crore through 1 equity share and 296 CCPS in one or more tranches to acquire a 19.84% stake in the startup.

Kaiinos Geo Spatial Technologies focuses on developing intelligent systems for strategy making and execution for Geographic Information Systems (GIS) companies.

Both acquisitions are slated for completion by March 31, 2025, according to the company's statement.