Gurugram-based NeoGeo has raised approximately $20 million in a Series A funding round led by Neev II Fund and Aavishkaar Capital, signalling a significant boost for India’s growing geospatial sector as government policies foster private sector participation and international expansion plans unfold.
NeoGeo has raised about $20 million in a Series A round led by Neev II Fund and Aavishkaar Capital, giving the Gurugram-based geospatial technology company fresh backing as India’s location-data market opens up to greater private sector participation. The startup said the money will be used to widen its product range, deepen research and development, strengthen its engineering bench and push into overseas markets, including the Middle East and the Americas.
Founded in 2019 by Sreeramam GV and Brahmam GVS, NeoGeo works with government and corporate clients on natural resource management, disaster response, urban governance, utilities, infrastructure and smart cities. The company combines satellite imagery, LiDAR, drones and ground surveys, then processes the material with artificial intelligence and machine learning to produce geospatial intelligence for customers.
NeoGeo has also built sector-specific platforms, including OptiFleet for fleet and network optimisation, GeoBalance for natural resource management, UrbanVista for urban planning and smart-city visualisation, and InfraSync for infrastructure asset management. The company says it has delivered more than 200 projects, mapped over 500,000 square kilometres and operates more than 550 continuously operating reference stations, which help improve positioning accuracy.
The fundraise comes after India’s National Geospatial Policy 2022, which the Ministry of Science and Technology notified in December 2022, set out a broader plan to liberalise the sector, improve access to geospatial data and build the country’s mapping and digital elevation capabilities by 2030. Policy support has helped create a more favourable environment for private companies in areas such as infrastructure, urban governance, natural-resource management and disaster planning, giving startups like NeoGeo a bigger commercial runway.
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