The Business Model Of MapmyIndia: Services, Funding And Marketshare

PV Vyshnavi PV Vyshnavi
Jan 26, 2021 8 min read
The Business Model Of MapmyIndia: Services, Funding And Marketshare

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MapmyIndia is known to be one of Indiaโ€™s most comprehensive GPS navigation and tracking solutions provider, engaging the user on multiple platforms. The New Delhi based company first started out producing online, until it eventually migrated into consumer navigation devices, fleet-tracking solutions for taxi and trucking companies, and mobile apps. Today, the company offers an entire API stack, IOT devices, and a map app and is also a strong competitor to the global giant google.

The company has so far mapped over 10.54 million unique destinations, expanded its coverage to over 2 million kilometers of road network, 7068 cities at street level along with address level for 80 cities, and it also covers 6 lakh villages and 3D and 2D landmarks in 86 different cities. Not only that the company has also divulged into offering variety of different services. It offers services like navigation functionality, tracking and telematics and location based analytics.

MapmyIndia has its own API stack through which the company aids developers who are looking to build interesting and unique apps powered by a geo locational element such as OLX, Flipkart, maps for blind and handicapped and smart parking systems. The company now has 5,000 enterprise customers. It also claims to have captured 80% market share in revenue in the location intelligence space.

It has more than 2,000 customers on its SaaS platforms, which is used for fleet management, location analytics, etc. among other things, made possible because of their successful business model. Other smaller players that it faces competition in the IoT-powered GPS devices include Asset Tracker, TrakNTell and CaRPM. HyperTrack which had been in private beta since February 2016 also launched in June 2016.

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A brief history about MapmyIndia

MapmyIndia is an India technology company that builds digital map data, telematics services location based SAAS and GIS AI services. The company has its headquarters in New Delhi with regional offices in Mumbai and Bengaluru, along with an international office in the San Francisco Bay Area. MapmyIndia was founder in the year 1992 by Rakesh and Rashmi Verma. The company had its humble beginning when the couple launched a startup called as C E Info Systems in New Delhi.

The company initially started working upon developing a web mapping technology and provide products and services required for enhancing marketing and logistics efficiency in existing organization in the country. The company launched the first Indian interactive digital mapping portal in 2004 which provided free, customized, location based services.

 Rakesh and Rashmi Verma, The founders of MapmyIndia
Rakesh and Rashmi Verma, The founders of MapmyIndia

In 2010, MapmyIndia launched a GPS navigation service called Road Pilot, preloaded with Indian cities, villages and destinations and destinations. ย As of 2018, it has 5000 plus enterprises customers and over 250 million consumers benefit directly and indirectly from its services. MapmyIndia has also expanded to countries like Sri Lanka, Bangladesh, Bhutan and Nepal and soon plans to release maps for the different parts of the world.

During the trying times of the pandemic, the company launched a Covid 19 dashboard that mapped containment zones and Covid 19 testing and treatment centers across India in real time and made it available for millions of users for free of cost. This immediate move benefitted many users needing this information, whereas Google was slow to respond and released it many months later. It also won the Government of India's Atmanirbhar App Challenge for its consumer app.

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Products and Services the company offers

MapmyIndia is well known for its services like Navigation, Tracking, IoT, Analytics and web mapping service for desktop and mobile devices. The company also offers advanced GPS tracking devices, car in-dash infotainment and plug and play on-board diagnostics car tracker. The navigation service features street view, public transit information and turn-by-turn navigation with spoken instructions for vehicles. The main services that the company offers is:

  • Professionally Curated and continuously updated detailed maps that offer unmatched coverage - These maps enable web and mobile applications, with the most granular house level building data, live traffic, location based demographics and socio economic data.
  • Real time data visualization and big data analytics to make more informed decision - Maps provide a visual context that helps customers to increase productivity, involving location like site selection & resource allocation that helps with efficient business growth.
  • Smart Mobility platform for sale, convenient and efficient mobility - The Company is focused on building technology platform for connected vehicles and travelers paving the road for autonomous multi modal and safe mobility.
  • Connected Vehicle IoT ensuring safety and security of vehicles, people and assets - The Company also believes in providing secure, intelligent and modular location based IoT platform, providing accurate and reliable maps with live traffic, road conditions, safety alerts, driving patterns and other travel services.

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The Business Model of MapMyIndia

When Rakesh and Rashmi Verma first started out to build their own startup they were determined to do something for the country and thus, decided to make it their lifeโ€™s goal to build a the countryโ€™s first digital map based on database of India. This was a difficult task in the beginning because India is known to be vast and varied geographical and topographical diversities. Which is why they decide to make their own database known as the "Top Down and Bottoms Up".

The Top Down system included that the company digitally traced whatever paper maps were available using tablets and other IT and electronics devices. Whereas the Bottom Up was meant to survey different parts of the country. The team of MapmyIndia played an important role in surveys as they had to practically walk down the streets and by lanes of the country and also conduct field surveys.

The company has a customer funded business model and has had popular companies like Coca Cola, Marico, Hindustan Unilever and the Indian defense service as their enterprise customers. All made possible because of its team of more than 400 surveyors, post physical and satellite surveys and most importantly its 25 years of research. The company now has a repository of more than 2 Cr data points, including 3D data visualizations, telematics, and navigation systems under its belt.

How MapmyIndia works

Map Data collection work

The company not only send more than 400 surveys in the field, but also collected hundreds of attributes like footprints, doorsteps, floor number, flat number, flat number and photographs about every location. It is because of this information, that the company has created a digital map of the country of inter-connected information with all those geographical markers and coordinates. It has also entered into more than 100 strategic partnerships with tech and marketing companies, to facilitate the process of data collation faster.

Four Key Markets of MapmyIndia

In terms of verticals, MapmyIndia addresses four key markets:

  • Direct consumers (through free and paid app/maps)
  • Automotive (40% of revenue)
  • Mobile Internet (20%) and
  • Enterprises and government (40% of revenue).

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eLoc: Electronic location as a key to Digital Address

MapmyIndia has presented eLoc (electronic Location) as the countryโ€™s key to digital addresses. eLoc by MapmyIndia ย helps in finding electronic location of any place, be it a building, flat, office, business, city, village, locality, road and so on, is a short, 6 character code (for e.g. 8GDTYX, or MMI000). This is easy to remember, share, type, and provide. eLoc claims to provide a comprehensive, accurate, and precise door-step level, 3D digital map database and turn by turn navigation solution.

eLoc is essential when a person, business or official searches for a place by entering the code, they can see the precise map location of the place besides its location, such as reviews, photos another information provided by then placeโ€™s owner, businesses, and governments. MapmyIndia updates its digital database every quarter and takes into account the feedback of the enterprises customers, individual users, on ground staff, and its own surveyors as well.

Market share and Funding of MapmyIndia

MapmyIndia cloud mapping services are used by many well-known tech companies such as Paytm, PhonePe, Amazon, Alexa voice, Flipkart, Uber, Ola, Grofers, for various things like planning, operations and customer experience. The company also offers advanced navigation and location services to the vehicle manufacturer and has 95% market share on GPS navigation in India. It also claims to have 5,000 enterprises customers with 80% market share in the location intelligent space.

MapmyIndia has so far raised $34 million in venture capital financing in the three rounds since 2007 from the Lightbox Ventures, Nexus Venture Partners, Qualcomm Ventures and Zenrin. In 2015, Flipkart announced that it has acquired 34% stake of the company for Rs 1,600 crore and provided a successful exit to MapmyIndia's early investors. Over the years, the firm's value has more than tripled due to increase in adoption of its technologies.

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FAQ - Frequently Asked Questions

What does the Navigation map of version 23.0 cover?

The navigation map of MapmyIndia provides All India Street level maps for 7530, 29.5 Million Unique destinations connected by 6.24 Million Km of road network. It also provides points of interest with multiple categories supporting travel related to tourism, business, week-end entertainment, daily needs etc. Helps you find major tourist spots in the city with an added advantage of voice guidance available in multiple regional languages in addition to Hindi and English.

What are the premium features of MapmyIndia?

The premium features of MapmyIndia are House/Building level navigation for 337 cities, 3-D landmarks across 90 cities, Junction views for easy navigation at complex junctions, Lane Guidance in 900+ cities and along National Stretches, Text- to-speech, Visual & Audible lane guidance, Signpost 52000+ cities and Audible sign post

How do I play a demo route in MapmyIndia?

Once you have set the route, you can play the demo route by clicking on the black Route button present in the lower left corner of the screen and then selecting demonstrate. To stop the demo at any point, click on the Route button again and select "Stop Demonstration"

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