MapmyIndia and LetsVenture partner to encourage startups with best-in-class maps and location technologies and financial investments
• Under MapmyIndia’s AppmyIndia program, startups and developers leverage MapmyIndia’s best-in-class stack of maps and location technologies and ready reach to 5000+ enterprise customers and 10 million consumer base
• Get angel and institutional financial investment opportunities through LetsVenture startup funding platform
• Partnership focused on 4 themes – smarter cars, businesses, governance and consumers – covering market spaces such as better AI, autonomous vehicles, governance, public safety and security, public health, climate change, location-based services and mapping technologies, IoT devices, enterprise SaaS, and consumer apps
Bengaluru, March 16, 2017: MapmyIndia, India’s leader in digital maps and location technologies, and LetsVenture, India’s largest startup funding platform, today announced their partnership to encourage startups and developers in India to leverage MapmyIndia’s map and location technology stack to solve problems for Indian and global markets, and to get the opportunity to pitch for investments from leading angels and institutions that are part of the LetsVenture platform. This was announced on the sidelines of LetsIgnite, India’s largest angel investor conference being held in Bengaluru.
Enterprises, startups and developers can develop the best solutions and build the most profitable and impactful enterprises by infusing rich and valuable location intelligence from the MapmyIndia Stack into their own apps, IoT devices, solutions, systems and workflows by integrating. The MapmyIndia Stack is India’s best and most powerful set of digital map data, APIs, professional services and customized solutions covering maps, navigation, tracking and location analytics and includes the latest innovations from MapmyIndia such as eLoc, India’s first nation-wide digital address system which is essentially a 6 character code for every doorstep/place across India.
As part of this latest partnership, LetsVenture will support shortlisted AppmyIndia developers and startups building on the MapmyIndia Stack to showcase their products to global investment community. LetsVenture will also provide pitch review for the shortlisted start-ups that are ready to raise funding and work with them during the deal syndication process. This partnership will accelerate MapmyIndia’s goal of empowering the entire Indian startup ecosystem through its AppmyIndia platform, wherein developers & startups can get access to MapmyIndia’s API and solution stack to make powerful apps, submit innovative & radical ideas, evangelize location technology through creative ads, and submit research proposals for prizes up to Rs. 10 lacs, as well as go-to-market support for key enterprise engagements and mass consumer distribution. (To know more & participate, please visit www.appmyindia.com).
The AppmyIndia developer community is already 10,000 strong. Increasing numbers of startups, developers and technology companies and public sector are building powerful apps, IoT devices, SaaS solutions and enterprise systems which have real world transformational impact, are better in quality and capability, and which result in much better profitability, due to the accuracy, detail, comprehensiveness and quality of MapmyIndia’s stack of
maps and location technologies. This stack has been built over 20 years, through 750 mapping and surveying experts, by deploying Rs 200 crore of capital investments, and using cutting-edge equipment and technologies. (Read more about the MapmyIndia Stack of APIs at http://mapmyindia.com/api and solutions at http://mapmyindia.com).
Core to the MapmyIndia Stack and what will drive the next set of transformational innovations for a Digital India is eLoc, India’s first nationwide digital address system, which has transformational potential in the private and public sectorak in to Aadhaar and the India Stack. The simple and powerful 6 character eLoc code (e.g. http://eloc.me/MMI000) for every doorstep enables seamless and efficient doorstep navigation, deliveries, dropoffs/pickups, and household level e-governance never before seen or possible in India or the world leading to better and smarter businesses, governments, consumers and cars/computing devices. MapmyIndia has professionally mapped 2 crore+ eLocs and this number is growing fast, so users can simply get and start using/enjoying benefits of their eLoc by searching their address/business/name of place at http://eloc.me. Developers, startups and organisations can integrate eLoc into their address input flows and the MapmyIndia Stack for all their map and location needs by following the instructions at http://mapmyindia.com/eloc.
“India and the startup ecosystem is at an inflection point. Poised for significant growth in the coming decade, but facing the growing pains of a young nation as well as fledgling startup and venture ecosystem. Without strong technology, marketing, capital and ecosystem investments, the promise of India and the startup ecosystem may not reach its full potential. We really believe that high quality maps and location technologies are an integral part of the digital and IT foundation which drives profitability, growth and success of all major enterprises in the automotive industry as well as across all public and private sector organization, because of the direct impact maps play in logistics,delivery, and supply chain efficiency and capabilities as well as on all aspects of intelligent location data driven decision support in enterprises, by enabling smarter governance and civic and emergency service delivery down to every household spread geographically across urban and rural India,delightful hyper local consumer apps, and of course in enabling autonomous navigation and vehicle safety solutions for the fast approaching smart, self-driving car revolution. MapmyIndia is uniquely positioned to support the entire ecosystem directly through its products and solutions and indirectly through our developer platform, AppmyIndia, thanks to our 20 years of pioneering and visionary efforts and Rs 200+ crore of investments in building the largest and best technology stack and digital map database intellectual property. Through our AppmyIndia program, we are encouraging tens of thousands of startups and developers to leverage our API and product/platform stack to build the best solutions to transform India, and are offering the first group of winners, cash prizes up to Rs 10 lakhs. Thanks to this LetsVenture partnership, the best AppmyIndia developers and startups now and in future will have opportunities to receive financial investments to help grow their business. In this way, we sincerely hope to empower the entire ecosystem with best in class technology, marketing and capital, to help leapfrog India to the forefront of the digital world, and to make life better for all Indians,” said Rohan Verma, Executive Director and CTO of MapmyIndia.
“At LetsVenture, our vision has been to make the fundraising process democratic, transparent and efficient. At the same time we strongly believe that funding is a milestone and not the goal. From that perspective, MapmyIndia’s AppmyIndia program is in perfect alignment as jointly we will be able to have a much larger impact by enabling entrepreneurs to use the right tools to solve problems, build business and also complete their funding.” said Chaitanya Ramalingegowda, VP – Investor Relations.
About MapmyIndia (Website: http://mapmyindia.com, eLoc: http://eloc.me/mmi000)
MapmyIndia’s mission is to make the world better through maps and location technologies. Founded in 1992, MapmyIndia is India’s leader in premium quality digital map data and APIs, GPS navigation, tracking, location apps, and GIS solutions.
Headquartered in New Delhi with offices across India, MapmyIndia is an ISO 9001-2012 company with 750+ people that pioneered digital mapping in India. Since 1995, through continuous efforts of its 400+ professional field surveyors and state-of-the-art mapping technology and its own private investment of Rs 200+ crore into cutting technologies and professional map building processes, which includes its revolutionary RealView service that captures, analyses and publishes the world in 3D and 360-degree photo-realistic clarity, MapmyIndia has built its proprietary MapmyIndia Maps, the most comprehensive, accurate, reliable, full-featured, professionally created and continuously updated digital map data set IP for all India, including the game-changing eLoc digital address innovation, a 6 character code for every doorstep across India, which are used for a wide range of applications including Navigation, Telematics, Autonomous Driving, Geographic Information Systems, Location Based Services and Smart Cities. MapmyIndia powers 5000+ enterprises, 80% of car with in-built navigation in India run on MapmyIndia, 10,000+ developers build on the MapmyIndia stack, and MapmyIndia has successfully served over 10 million individual end users and customers.
MapmyIndia makes not just the most advanced, accurate and detailed maps of India, but also the best GPS-based IoT (“Internet of Things”) devices optimized for use in vehicle, asset and personal navigation and tracking, market-leading location-based enterprise SaaS (“Software as a Service”), popular and delightful hyper-local mobile and web consumer apps, including maps.mapmyIndia.com, India’s very first and most detailed, accurate and comprehensive interactive online mapping portal, and NaviMaps, the best offline GPS navigation app for India. Enterprises, startups and developers can infuse rich and valuable location intelligence into their own apps, IoT devices, solutions, systems and workflows by integrating with the MapmyIndia Stack, which is India’s best and most powerful set of data, APIs, professional services and customized solutions covering maps, navigation, tracking and location analytics. MapmyIndia’s developer platform, AppmyIndia (http://appmyindia.com), already powers tens of thousands of developers, startups and technology deployments by marquee public and private sector enterprises across 4 themes – Smart Cars, Smart Businesses, Smart Governments, and Smart Consumers – and is focused on enabling the entire ecosystem to transform India and leapfrog it to the forefront of the digital world.
LetsVenture is India’s largest startup funding platform. Founded in late 2013, LetsVenture is the most trusted platform for startups to create their investment ready profile, and connect to global, accredited investors for fundraising. Today 12000+ startups, 2000+ angel investors, and 260+ institutional investors from 23 countries are interacting on the platform. 108 startups have closed rounds on LetsVenture with total deal size at $40M+