MapmyIndia Strengthens Location Intelligence With Iwayplus Stake

What happens when digital maps reach the front door and need to go further inside? MapmyIndia appears to have an answer.

India’s listed geospatial technology company has acquired a minority stake of around 6% for INR 2 crore in Iwayplus, a Bengaluru-based indoor navigation startup. The move signals MapmyIndia’s intent to close a long-standing gap in digital mapping: seamless indoor navigation across complex public and enterprise spaces.

In a regulatory filing, the company said the investment is part of its broader strategy to back emerging technologies while expanding its business portfolio.

Why Indoor Navigation Is Moving Into Focus

While outdoor navigation has become near-ubiquitous, indoor environments remain largely opaque to digital maps. Airports, hospitals, malls, IT parks, and university campuses continue to rely on static signage or human assistance, often inefficient in high-footfall or mission-critical settings.

Iwayplus, founded in 2022 by Vikas Upadhyay and Pulkit Sapra, focuses precisely on this gap. The startup builds indoor mapping and real-time navigation systems, combining software platforms with hardware such as Bluetooth beacons and sensors to enable accurate indoor positioning and location-based services.

For enterprises managing large physical spaces, indoor navigation is increasingly viewed not as a convenience feature but as infrastructure supporting operational efficiency, safety, accessibility, and user experience.

Strengthening the Outdoor-to-Indoor Continuum

For MapmyIndia, the Iwayplus investment strengthens its end-to-end location intelligence stack.

The company already provides digital maps and geospatial analytics to consumers, enterprises, and government agencies. Adding indoor navigation capabilities allows it to offer continuous routing from city streets into terminals, wards, offices, or campuses.

This capability is particularly relevant for:

• Airports and transport hubs

• Large hospitals and healthcare campuses

• Smart city deployments

• Enterprise and government facilities

The integration deepens MapmyIndia’s relevance in projects where physical navigation intersects with digital infrastructure, a growing priority across public and private sectors.

A Fast-Growing Startup, Still Early-Stage

Iwayplus remains a small but fast-scaling company. Its FY25 turnover stood at INR 76 lakh, a fourfold increase from INR 19 lakh in the previous fiscal year.

The startup’s product portfolio includes:

• Indoor digital maps

• Real-time navigation systems

• Positioning technologies

• Location-based services

These offerings are designed to function in environments where GPS signals are unreliable or unavailable—one of the core challenges of indoor navigation.

Part of a Broader Investment Pattern

The Iwayplus deal fits into a pattern of targeted strategic investments by MapmyIndia over the past few years, aimed at expanding its geospatial and mobility ecosystem.

Its portfolio includes stakes in:

• Gtropy Systems – Telematics and IoT-based fleet management

• SimDaaS Autonomy – AI and simulation technologies for ADAS and autonomy

• PT Terra Link Technologies – A joint venture with Hyundai AutoEver in Southeast Asia

• Kaiinos Geo Spatial Technologies – GIS-focused intelligent systems

• Indrones Solutions – Drone-based mapping and data capture

• Zepto – A small equity stake aligned with logistics and last-mile ecosystems

Together, these investments point to a strategy focused on location intelligence as a horizontal platform, spanning mobility, logistics, automation, and smart infrastructure.

Financial Context and Market Reaction

The strategic push comes amid mixed financial performance.

MapmyIndia reported a 39% year-on-year decline in net profit to INR 18.5 crore in Q2 FY26, compared to INR 30.4 crore a year earlier. At the same time, operating revenue rose 10% YoY to INR 113.8 crore, indicating continued demand for its core offerings.

While the Iwayplus stake is modest in size, its implications are larger. Indoor navigation is emerging as a critical layer in enterprise digital infrastructure, especially as smart cities, connected campuses, and data-driven public spaces scale up.

For MapmyIndia, the investment reinforces a longer-term shift, from being a map provider to becoming a full-stack location intelligence platform that understands not just where users are going, but where they are once they arrive.