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MapMyIndia CEO Rohan Verma to Step Down, Plans New B2C Venture

• ByStartupStory     |    December 2, 2024

In a significant development, MapmyIndia has announced that Rohan Verma, its Chief Executive Officer and Whole-Time Director, will step down from his role effective March 2025. Verma will transition to an executive position in a new business-to-consumer (B2C) company starting April 1, 2025.

According to an exchange filing with BSE, the proposed B2C venture aims to develop the company’s consumer tech business segment. MapmyIndia will invest ₹35 crore in the new entity through Compulsorily Convertible Debentures (CCDs). Additionally, it will acquire 1,00,000 equity shares at ₹10 lakh, representing a 10% stake in the new venture.

Rohan Verma expressed optimism about the company’s strategic direction. “I am excited to focus on building our consumer tech business to create more value for MapmyIndia’s users and stakeholders. This new venture will enable us to innovate and address the dynamic needs of consumers more effectively.”

Investments in SimDaaS and Kaiinos Geo Spatial Technologies
Further, the company’s board approved two key strategic investments in cutting-edge technologies:

SimDaaS Autonomy: MapmyIndia will invest ₹3 crore to acquire a 9.37% stake through one equity share and 12,389 compulsorily convertible preference shares (CCPS). SimDaaS focuses on simulation-driven development for autonomous systems, including autonomous vehicles and advanced driver assistance systems (ADAS).

Kaiinos Geo Spatial Technologies: The company plans to invest ₹2 crore in exchange for a 19.84% stake through one equity share and 296 CCPS in one or more tranches. Kaiinos Geo Spatial specializes in intelligent systems for Geographic Information Systems (GIS) strategy and execution.

The investments in both companies are expected to be completed before March 31, 2025.

Commenting on these strategic moves, MapmyIndia said in the filing, “These investments are in line with our commitment to driving innovation and leveraging emerging technologies to strengthen our offerings and capabilities.”

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