MapmyIndia acquires 9.35% stake in AI startup SimDaaS

Quick Summary:

The investment worth Rs 3 crore is part of MapmyIndia’s strategic initiative to help bolster its business portfolio.

However, a few days later, amidst criticism from investors and industry experts, the company reversed its decision to make any equity or debt investment into the proposed B2C venture.

The acquisition was first approved by the company’s board of directors in November last year.

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Company Equity Mapmyindia Simdaas Policy Privacy Crore Data Mapmyindia’s Acquires Acquisition

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-27 @ 10:38:20 (3 days ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 234 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 25495769

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