[[{“value”:”
Listed geotech company MapmyIndia has acquired a 9.37% stake in Kanpur-based AI startup SimDaas Autonomy for about INR 3 Cr.
The transaction was a mix of equity infusion worth INR 2,194.25 and issuance of 13,671 compulsorily convertible preference shares (CCPS) having a face value of INR 2,194.25 each, taking the total value of the deal to INR 2.99 Cr.
While the deal was first announced in November last year, it was completed on January 24, as per an exchange filing by MapmyIndia.
Founded in 2023 by Sunit Arya, SimDaas Autonomy focuses on simulation technologies for autonomous systems and advanced driver-assistance systems (ADAS).
Shares of MapmyIndia were trading flat at INR 1,661 apiece on the BSE at 11:19 AM today (January 27).
(The story will be updated soon.)
The post MapmyIndia Picks Up 9.37% Stake In AI Startup SimDaas appeared first on Inc42 Media.
“}]]
Read More Latest Startup News From The Indian Startup Ecosystem – Inc42 Media