MapmyIndia Join Hands with LetsVenture

By: DT News Network
March, 20, 2017

MapmyIndia and LetsVenture announced their partnership to encourage startups and developers in India to leverage MapmyIndia’s map and location technology stack to solve problems for Indian and global markets, and to get the opportunity to pitch for investments from leading angels and institutions that are part of the LetsVenture platform.

This was announced on the sidelines of LetsIgnite, India's largest angel investor conference being held in Bengaluru. 

Enterprises, startups and developers can develop the best solutions and build the most profitable and impactful enterprises by infusing rich and valuable location intelligence from the MapmyIndia Stack into their own apps, IoT devices, solutions, systems and workflows by integrating. The MapmyIndia Stack is India’s best and most powerful set of digital map data, APIs, professional services and customized solutions covering maps, navigation, tracking and location analytics and includes the latest innovations from MapmyIndia such as eLoc, India’s first nation-wide digital address system which is essentially a 6 character code for every doorstep/place across India.

As part of this latest partnership, LetsVenture will support shortlisted AppmyIndia developers and startups building on the MapmyIndia Stack to showcase their products to global investment community. LetsVenture will also provide pitch review for the shortlisted start-ups that are ready to raise funding and work with them during the deal syndication process. This partnership will accelerate MapmyIndia’s goal of empowering the entire Indian startup ecosystem through its AppmyIndia platform, wherein developers & startups can get access to MapmyIndia’s API and solution stack to make powerful apps, submit innovative & radical ideas, evangelize location technology through creative ads, and submit research proposals for prizes up to Rs. 10 lacs, as well as go-to-market support for key enterprise engagements and mass consumer distribution. (To know more & participate, please visit www.appmyindia.com).

The AppmyIndia developer community is already 10,000 strong. Increasing numbers of startups, developers and technology companies and public sector are building powerful apps, IoT devices, SaaS solutions and enterprise systems which have real world transformational impact, are better in quality and capability, and which result in much better profitability, due to the accuracy, detail, comprehensiveness and quality of MapmyIndia’s stack of maps and location technologies. This stack has been built over 20 years, through 750 mapping and surveying experts, by deploying Rs 200 crore of capital investments, and using cutting-edge equipment and technologies. (Read more about the MapmyIndia Stack of APIs at http://mapmyindia.com/api and solutions at http://mapmyindia.com).

Core to the MapmyIndia Stack and what will drive the next set of transformational innovations for a Digital India is eLoc, India’s first nationwide digital address system, which has transformational potential in the private and public sector akin to Aadhaar and the India Stack.  The simple and powerful 6 character eLoc code (e.g. http://eloc.me/MMI000) for every doorstep enables seamless and efficient doorstep navigation, deliveries, dropoffs/pickups, and household level e-governance never before seen or possible in India or the world leading to better and smarter businesses, governments, consumers and cars/computing devices. MapmyIndia has professionally mapped 2 crore+ eLocs and this number is growing fast, so users can simply get and start using/enjoying benefits of their eLoc by searching their address/business/name of place at http://eloc.me. Developers, startups and organisations can integrate eLoc into their address input flows and the MapmyIndia Stack for all their map and location needs by following the instructions at http://mapmyindia.com/eloc.

“India and the startup ecosystem is at an inflection point. Poised for significant growth in the coming decade, but facing the growing pains of a young nation as well as fledgling startup and venture ecosystem. Without strong technology, marketing, capital and ecosystem investments, the promise of India and the startup ecosystem may not reach its full potential. We really believe that high quality maps and location technologies are an integral part of the digital and IT foundation which drives profitability, growth and success of all major enterprises in the automotive industry as well as across all public and private sector organization, because of the direct impact maps play in logistics, delivery, and supply chain efficiency and capabilities as well as on all aspects of intelligent location data driven decision support in enterprises, by enabling smarter governance and civic and emergency service delivery down to every household spread geographically across urban and rural India, delightful hyper local consumer apps, and of course in enabling autonomous navigation and vehicle safety solutions for the fast approaching smart, self-driving car revolution. MapmyIndia is uniquely positioned to support the entire ecosystem directly through its products and solutions and indirectly through our developer platform, AppmyIndia, thanks to our 20 years of pioneering and visionary efforts and Rs 200+ crore of investments in building the largest and best technology stack and digital map database intellectual property. Through our AppmyIndia program, we are encouraging tens of thousands of startups and developers to leverage our API and product/platform stack to build the best solutions to transform India, and are offering the first group of winners, cash prizes up to Rs 10 lakhs. Thanks to this LetsVenture partnership, the best AppmyIndia developers and startups now and in future will have opportunities to receive financial investments to help grow their business. In this way, we sincerely hope to empower the entire ecosystem with best in class technology, marketing and capital, to help leapfrog India to the forefront of the digital world, and to make life better for all Indians,” said Rohan Verma, Executive Director and CTO of MapmyIndia.

"At LetsVenture, our vision has been to make the fundraising process democratic, transparent and efficient. At the same time we strongly believe that funding is a milestone and not the goal. From that perspective, MapmyIndia's AppmyIndia program is in perfect alignment as jointly we will be able to have a much larger impact by enabling entrepreneurs to use the right tools to solve problems, build business and also complete their funding." said Chaitanya Ramalingegowda, VP - Investor Relations.



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