MapmyIndia will give KOGO access its Mappls technology suite with the investment
KOGO, a gamified platform for social commerce, was launched in 2020. Users can earn a coin called KOGOCOIN while they travel.
Mappls’ integration of KOGO will improve consumer engagement, brand loyalty, and in-vehicle Monetisation opportunities.
MapmyIndia, a geotech startup listed on the Indian Stock Exchange, has invested INR 10 Cro ($1.25 Million) to purchase a 26.37% share in gamified social commerce platform KOGO. There is an option to increase the stake to 50% within two years.
MapmyIndia will provide KOGO with access to its Mappls technology suite. This suite was integrated recently with the Government of India’s Unified Logistics Interface Platform, (ULIP) by MapmyIndia.
This is MapmyIndia’s second September investment. Geotech startup made an investment in Nawgati, a fuel aggregator startup, earlier this month at a value of $4 Mn.
KOGO, a gamified platform for social commerce, was launched in 2020. Users can earn a coin called KOGOCOIN as they travel. You can use the in-app currency to purchase services, hotels, products, accessories, and other items around the globe.
MapmyIndia Mappls provides solutions, including hyperlocal maps, real-time places data and automotive N-CASE technology (Navigation enabled Connected Vehicle Autonomous Safety & ADAS & Automotive Safety, Shared Mobility platforms, and Autonomous Safety & ADAS & Automobile Safety), as well as consumer-facing apps.
According to the listed geotech startup, there are millions of Indian vehicles with Mappls integrated.
MapmyIndia stated in a statement that the integration of KOGO’s gamified outdoor, gamified travel and hyperlocal content in Mappls will increase customer engagement and brand loyalty, as well as in-vehicle monetisation possibilities for automotive OEMs.
Bajaj Auto KTM and Mahindra Classic Legends Yezdi incorporate KOGO’s automotive solutions.
The app also offers a marketplace that accepts KOGOCOIN. The marketplace is home to more than 800K+ entities. KOGO plans to use MapmyIndia’s investment to expand this marketplace.
Raj K Gopalakrishnan, Praveen Kochhar and Praveen Kochhar were the founders of KOGO. They said that KOGO would benefit from Mappls integration and the geospatial technology, maps, navigation and N-CASE that it comes with.
MapmyIndia stated that the partnership will enable the listed startup to tap a multi-billion-dollar market and better serve the needs of the people.
Mappls Integrated With Unified Logistics Interface Platform
Last week, MapmyIndia’s Mappls app, logistics tech and APIs were integrated into the ULIP. It was revealed during the launch the National Logistics Policy. These solutions can be used by both consumers and enterprises, creating two revenue streams for the listed startup.
MapmyIndia, which uses logistics tech and APIs to enable logistics operators to digitise operations including GPS and NavIC IoT, for goods movement tracking and fleet management, field workforce and asset management, and fleet and workforce management.
MapmyIndia stated that the app will reduce accidents by providing route summaries, real-time alerts for drivers about speed limits, speed cameras and speed breakers and sharp curves.
On Wednesday, shares of CE Infosystems Ltd., parent company of MapmyIndia closed at INR 1,356 (BSE)