MapmyIndia CEO Rohan Verma to Step Down, Lead New B2C Venture To support this venture, MapmyIndia will invest INR 35 crore in Compulsorily Convertible Debentures (CCDs) and INR 10 lakh for a 10% equity stake in the new entity.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
MapmyIndia, in a filing with the Bombay Stock Exchange (BSE), announced that Rohan Verma will step down as CEO and Whole-Time Director, effective March 2025. Verma will assume an executive role in a new business-to-consumer (B2C) tech company, focused on developing its consumer tech segment starting April 2025.
To support this venture, MapmyIndia will invest INR 35 crore in Compulsorily Convertible Debentures (CCDs) and INR 10 lakh for a 10% equity stake in the new entity.
In addition, the board approved two strategic investments. The company will acquire a 9.37% stake in SimDaaS Autonomy by investing INR 3 crore through one equity share and 12,389 Compulsorily Convertible Preference Shares (CCPS). SimDaaS specialises in simulation-driven development for autonomous systems, including autonomous vehicles and advanced driver assistance systems (ADAS).
MapmyIndia will also invest INR 2 crore for a 19.84% stake in Kaiinos GeoSpatial Technologies Private Limited, acquiring one equity share and 296 CCPS. Kaiinos focuses on intelligent systems for strategic planning and execution within Geographic Information Systems (GIS).
Both acquisitions are slated for completion by March 31, 2025, underscoring MapmyIndia's commitment to expanding its presence in autonomous systems and GIS.
