MapmyIndia Buys 6% Stake in Iwayplus for Indoor Navigation Push
Overview
Geotech leader MapmyIndia invested INR 2 Cr for a 6% stake in indoor navigation startup Iwayplus. This strategic move bolsters MapmyIndia's mapping capabilities, enabling seamless transitions from outdoor to indoor navigation. The acquisition targets enhanced relevance in locations like malls, airports, and hospitals, supporting enterprise and government needs for a comprehensive location intelligence platform.
Stocks Mentioned
MapmyIndia Invests in Indoor Navigation Startup Iwayplus
Geotech major MapmyIndia, officially CE Info Systems Ltd., announced a strategic investment of ₹2 Crore for a minority stake of approximately 6% in Iwayplus, an indoor navigation solutions provider. The move aims to integrate Iwayplus's specialized technology into MapmyIndia's expansive digital mapping and location intelligence platform.
Iwayplus's Promising Technology
Founded in 2022, Iwayplus focuses on building indoor mapping and navigation systems for complex environments like hospitals, airports, malls, and university campuses. The startup demonstrated significant growth, with its turnover jumping fourfold to ₹76 Lakh in fiscal year 2025 from ₹19 Lakh in the prior fiscal. Its offerings include indoor maps, real-time navigation, and location-based services powered by beacons and sensors.
Strategic Expansion into Indoor Navigation
This acquisition strengthens MapmyIndia's mapping stack by incorporating crucial indoor navigation capabilities. This allows for seamless transitions from outdoor to indoor navigation, enhancing user experience and utility in large public and private spaces. The investment aligns with MapmyIndia's long-term objective to develop a comprehensive, full-stack location intelligence platform catering to diverse enterprise and government needs.
Financial Snapshot and Market Reaction
The investment comes amidst a mixed financial quarter for MapmyIndia. In the second quarter of fiscal year 2026, the company's net profit saw a decline of 39% to ₹18.5 Crore compared to ₹30.4 Crore in the previous year. However, operating revenue increased by 10% year-on-year to ₹113.8 Crore. Following the announcement, MapmyIndia's shares experienced a slight dip, closing 1.49% lower at ₹1,575 on the BSE.
