Genesys International Corporation, a 3D mapping content and geospatial solutions company, has announced a Rs 250 crore ($32 million) round of equity investment, to help accelerate the company's 3D Digital Twin Content Program.
The round led by Malabar India Fund with participation from other marquee investors including existing investor former Blackstone managing director Mathew Cyriac.
“This investment will be a key catalyst post the new Indian geospatial policy which has given a major fillip to our capabilities. We believe we will help leapfrog India’s map ecosystem,” said Sajid Malik chairman and managing director of the company.
Genesys was launched by Niti Aayog as a content platform, the first company in India to launch the street imagery immersive content for all major Indian cities along with an all-India vector map.
The Genesys constellation is now India’s largest sensor constellation capable of acquiring terrestrial, oblique and aerial imagery at high speeds and accuracy. It recently filed for two patents for the 3D mapping environment, the company said.
It plans to strengthen its content-as-a-service (CAAS) platform creating a business model offering multi vertical applications catering to the emerging needs of India’s digital infrastructure ecosystem. It will further target its offering to utilities, smart cities, big-tech and digital and e-commerce sectors.
Headquartered in Mumbai, Genesys has a team of 2,000 plus professionals working on several complex advanced mapping content and counts as its clients leading big tech, digital companies, utilities, and governments.
“We are excited about Genesys' mapping content and integration capabilities and the opportunities that the Indian digital infrastructure will provide in the years to come. A high-definition map platform will be an integral part of Digital India and we are delighted to partner with Genesys on their journey to deliver it,” said Sumeet Nagar, Malabar's managing partner.
After the funding announcement, the company's shares ended 5% higher at Rs 584.30 per share on the BSE.