C E Info Systems to acquire 26.37% stake in 'KOGO' platform for Rs10 crore

15 Sep 2022 , 10:44 AM

The Board of directors of C E Info Systems Limited has considered and approved the acquisition of 26.37% stake on fully diluted basis of Kogo Tech Labs Private Limited for Rs10 crore, with an option to raise the stake to 50% within 2 years.

MapmyIndia offers to Automotive OEMs its Mappls N-CASE (Navigation, Connected Vehicle, ADAS & Autonomous Safety, Shared Mobility & Electric Mobility) Suite including its maps, software & IoT that goes built-in to their vehicles, companion apps and cloud back-end systems.

Millions of vehicles, across 4-wheelers and 2-wheelers, including newage EVs, have been going built-in with MapmyIndia’s Mappls N-CASE solution already through MapmyIndia’s partnership with almost all leading Automotive OEMs.

The investment will deepen MapmyIndia’s Automotive OEM portfolio, enabling in-vehicle commerce, discovery, community engagement and brand stickiness. By integrating Kogo’s social travel commerce platform into the Mappls N-CASE platform, MapmyIndia will now additionally provide to Automotive OEMs across India and the world, next-generation gamification, loyalty, engagement, community, content & commerce solutions.

“This would help Automotive OEMs deliver a premium and engaging user first approach to travel and experiences and enhanced technology quotient to their vehicle owners”, the company said.

Kogo Tech Labs Private Limited was incorporated on September 27, 2018 and is a gamified social travel commerce platform where users earn KOGOCOIN as they step out, and can spend these on Hotels, Experiences, Services, Accessories and stores on the KOGO Marketplace.

The KOGO marketplace has over 8,00,000+ Hotels, Experiences, Stores and service providers across the world currently and continues to expand its network to maximize spend & burn opportunities for its users.

KOGO is a subscription first platform that enables subscribers to earn & burn 3x more on their trips, experiences and adventures. This currency can be spent on KOGO’s large network of in-app and inplatform bookings, services and marketplace.

Along with its B2C App and website, KOGO also has a licensed B2B platform for Automotive OEMS that enables in-vehicle commerce, discovery, community engagement and hence brand stickiness.

At around 10:42 AM, C E infosystems was trading at Rs1383.20 per share lower by 0.02% on the BSE.

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