What’s the news: Digital mapping company MapmyIndia on February 13, 2023, announced the acquisition of a 20 percent stake in Indrones Solutions Private Limited (Indrones) worth Rs 7 crore. According to Business Standard, the move was taken to offer high-definition 3D maps. Why it matters: MapmyIndia has been involved with various entities like Civil Aviation Ministry and ISRO in the past to set up drone airspace maps, or develop location-based software services and AI solutions respectively. In fact, in 2021, MapmyIndia had talked about increasing the range of its digital maps and geospatial data products in terms of geographical coverage, features and functionalities. The acquisition of a stake in a drone manufacturing company is simply another step in this direction. MapmyIndia is looking forward to the acquisition: As per an official document shared by BSE India, MapMyIndia acquired an 11 percent stake for nearly Rs 3 crore on February 10. “We are excited to work with Indrones strategically to further augment our solutions and offerings based on drones, through which we can deliver on more use cases and needs of both our large base of enterprise customers across industry verticals and consumers through cutting-edge capabilities of drones.” — Rakesh Verma, Chairman and Managing Director of MapmyIndia, said in a press statement. About Indrones Solutions Private Limited: The company is a service provider in the drone sector, known for high-resolution data solutions powered by high-quality sensors on drones. The technological applications are used for agriculture, high-resolution maps generated from aerial surveys and mapping,…
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