Latest News | 3D Mapping Co Genesys Raises Rs 250 Crore from Malabar India Fund

Mumbai, Jun 15 (PTI) Genesys International, a 3D mapping company, on Wednesday said it has raised Rs 250 crore in a funding round led by Malabar India Fund.

Proceeds from the fund raise, which comes a year after the government liberalised the sector by coming up with the new geospatial policy, will be deployed to accelerate the 3D digital twin content programme, as per a statement.

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The city-headquartered company, which claims to be the first in the country to launch street imagery for major Indian cities, said the digital twin content platform was launched by the government's think tank Niti Aayog after the new policy came into being.

The company plans to strengthen its 'Content As A Service' platform creating a business model offering multi vertical applications catering to the emerging needs of India's digital infrastructure ecosystem, it said.

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"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," Malabar's managing partner Sumeet Nagar said.

The company's chairman and managing director Sajid Malik said the investment which comes after the launch of the new geospatial policy will give a fillip to its capabilities.

Scrip of Genesys gained 5 per cent to close at Rs 584.30 apiece on the BSE on Wednesday, as against a correction of 0.29 per cent on the benchmark.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)