DBT Bureau
Bengaluru, 25 June
Digital navigation firm MapmyIndia founders, Rakesh Verma & Rashmi Vermahave set up a new entity ClarityX, which will offer AI-based data analytics and consulting services to enterprises.
In an exchange filing, the company said its founders have set up the new firm ClarityX, which will help expand MapmyIndia’s enterprise offerings and addressable market.
ClarityX is supported by the strong and rich legacy of MapmyIndia, which operates in the space of deep-tech digital mapping, geospatial software and location-based IoT products, platforms, solutions and APIs.
“I always felt that to unleash the full power of data analytics for a wide range of customers, a broad spectrum of data is needed – data which could be geospatial, financial, technical, or any other – along with a dedicated, consultative approach. This has been the reason to start ClarityX, a separate company wholly focused on data analytics. ClarityX leverages AI and HI (Human Intelligence) in a bespoke and consultative manner to offer tailor-made actionable insights to enterprise customers across all industries, including BFSI, retail, FMCG, energy, ecommerce, and many more,” Rakesh Verma, Founder of ClarityX, and Co-founder & CMD, MapmyIndia has said.
ClarityX’s solutions include proprietary indices such as district potential index & rural potential index, machine learning models such as sales projection model and risk assessment model (utilizing predictive modeling), insights such as origin-destination analysis, category trend analysis, and catchment analysis, and a trends dashboard to demonstrate where India is moving, the company in the filing.
Recently, Goldman Sachs said that MapmyIndia is well-poised to benefit from an early leadership position in fast-growth end markets. Currently, it enjoys over 80% market share in automotive OEM navigation software. In last one month, the stock price of MapMyIndia (CE Info Systems Ltd) was up 22.16% to close at Rs 2,413 on Tuesday.
