Key Points
- NeoGeo raises $20 million in Series A from Neev II Fund and Aavishkaar Capital
- India's geospatial sector valued at ₹45,000 crore and projected to grow at 15 per cent CAGR
- Startup has mapped over 5 lakh square kilometres and manages 550 CORS stations
NeoGeo, a Gurugram-based geospatial technology company, has raised $20 million in Series A funding led by Neev II Fund and Aavishkaar Capital to expand its spatial intelligence platforms and enter international markets.
The investment will enable NeoGeo to strengthen its research and development capabilities, hire engineering talent and pursue contracts in the Middle East and the Americas, the company said on Monday (18 August). ICICI Securities acted as the exclusive financial adviser for the transaction.
Geospatial technology involves collecting, analysing and visualising location-based data using satellite imagery, aerial surveys and ground measurements to support decision-making in sectors ranging from urban planning to disaster management.
NeoGeo said it operates across this entire value chain, from acquiring raw data through satellites, drones and LiDAR, a technology that uses laser pulses to measure distances, to processing that data using artificial intelligence and machine learning algorithms.
Platform portfolio
The company said it has built four proprietary software platforms. OptiFleet handles fleet and network optimisation for logistics operators. GeoBalance supports natural resource management for government agencies. UrbanVista provides urban planning and smart city visualisation tools. InfraSync manages infrastructure assets such as roads, power lines and water networks.
“We have invested nearly a decade building end-to-end geospatial capabilities, driven by a clear belief that the true value of geospatial technology lies not in data collection, but in transforming data into actionable intelligence,” said Sreeramam GV, founder and CEO, NeoGeo.
Founded in 2019, NeoGeo said it has completed more than 200 projects, mapped over 5 lakh square kilometres of terrain and manages 550 continuously operating reference stations, known as CORS, which provide precise positioning data for surveying and mapping applications.
NeoGeo opportunity
India’s geospatial sector was valued at approximately ₹45,000 crore ($5.1 billion) in 2023 and is projected to grow at over 15 per cent compound annual growth rate between 2025 and 2030, according to the company.
The National Geospatial Policy of 2022 opened the sector to private participation and positioned geospatial data as a core component of national digital infrastructure.
“Fragmented, paper-based records of land and public assets often suffer from inaccuracy and do not reflect ground realities. NeoGeo converts those records into a single, high-precision spatial reference frame, thereby reducing disputes, improving transparency and unlocking financial inclusion, climate resilience and public governance at scale,” said Anurag Agrawal, partner, Aavishkaar Capital.
Aavishkaar Capital is an impact fund manager focused on emerging markets across India, Asia and Africa, with about $555 million in assets under management across eight funds.
Akshay Panth, chief investment officer, Neev Funds, said the investment aligned with the fund’s focus on climate-resilient and low-emission business models. “The company combines proven execution across complex situations with a clear transition towards platform-led, recurring revenue,” Panth said.
By the numbers
- $20 million
- Series A funding raised by NeoGeo
- ₹45,000 crore
- India geospatial market size in 2023
- 15%
- Projected CAGR for sector through 2030
Neev II Fund is managed by SBI Ventures Limited, a subsidiary of State Bank of India that oversees approximately ₹300 billion across climate technology, real estate and fund-of-funds strategies.
The fund targets growth capital investments in clean energy, circular economy, energy efficiency and sustainable infrastructure sectors.
NeoGeo’s platforms support climate mitigation by optimising resource use and measuring carbon abatement, while its hazard and vulnerability mapping capabilities assist in climate adaptation and disaster preparedness planning for government clients.
Your Questions, Answered
What does NeoGeo do?
NeoGeo is a geospatial technology company that collects location data using satellites, drones and LiDAR, then processes it using AI to create spatial intelligence platforms for government and corporate clients in urban planning, disaster management and infrastructure sectors.
How much funding did NeoGeo raise?
NeoGeo raised $20 million in Series A funding led by Neev II Fund, managed by SBI Ventures Limited, and Aavishkaar Capital.
What will NeoGeo use the funding for?
The company will invest in research and development, expand into international markets in the Middle East and Americas, and hire engineering and delivery teams for complex projects.
What is the size of India's geospatial market?
India's geospatial sector was valued at approximately ₹45,000 crore ($5.1 billion) in 2023 and is projected to grow at over 15 per cent CAGR between 2025 and 2030.
