Affirma Capital, 360 ONE Invest Rs 4.67 Billion in RMSI

07 Nov 2025 CW Team

The deal marks the first investment by Affirma Capital through its India-focused vehicle, the Agastya Capital India Growth Fund, executed in partnership with 360 ONE Asset, which participated via its flagship secondaries and technology-focused investment strategies.

Under the leadership of Rajiv Kapoor, Promoter, Chairman and Managing Director, RMSI has built deep expertise in artificial intelligence (AI), machine learning (ML) data annotation, autonomous driving technologies, and augmented reality mapping.

Affirma’s investment aims to accelerate RMSI’s growth and reinforce its leadership in the spatial, engineering, and AI/ML sectors. “We will work closely with RMSI to strengthen the leadership team, pursue strategic and inorganic growth opportunities, and leverage our global network to scale the business,” said Udai Dhawan, Founding Partner and India Head of Affirma Capital.

Vijay Nallan Chakravarthi, Partner at Affirma Capital, added that as AI and location-based technologies become increasingly ubiquitous, RMSI’s domain expertise and proven delivery record position it well to capitalise on future opportunities.

Affirma Capital manages multiple investments in technology and engineering-driven sectors, including travel tech firm TBO Tek, telecom IT company Prodapt, and South Korea-based T-Map Mobility. The Agastya Capital India Growth Fund typically takes Rs 2–5 billion stakes in mid-market companies with enterprise values between Rs 5 billion and Rs 25 billion, primarily across consumer, healthcare, technology, and financial services sectors.

Co-investor 360 ONE Asset, which has previously backed Bluestone, Vastu Housing Finance, Swiggy, and OneSource Specialty Pharma, said it was enthusiastic about RMSI’s next phase of growth. “We are excited to work with RMSI as it progresses towards a potential IPO,” said Sandeep Maheshwari, Senior Fund Manager at 360 ONE Asset.

Commenting on the deal, Anup Jindal, Promoter, CEO and Joint Managing Director of RMSI, said the investment underscores the company’s three-decade-long expertise and reputation in the domain. RMSI’s clients include leading global technology companies, with services spanning geospatial analytics, engineering design, environmental modelling, and AI-driven mapping solutions.

The funding is expected to accelerate RMSI’s expansion in digital engineering and AI-led services, as the company targets greater global market share and prepares for its next growth phase, including a potential IPO.

Affirma Capital, along with 360 ONE Asset and other co-investors, has agreed to invest up to USD 56 million (around Rs 4.67 billion) in RMSI Limited, a leading engineering and data analytics company serving global clients across navigation, mapping, telecom, utilities, and sustainability sectors. The deal marks the first investment by Affirma Capital through its India-focused vehicle, the Agastya Capital India Growth Fund, executed in partnership with 360 ONE Asset, which participated via its flagship secondaries and technology-focused investment strategies. Under the leadership of Rajiv Kapoor, Promoter, Chairman and Managing Director, RMSI has built deep expertise in artificial intelligence (AI), machine learning (ML) data annotation, autonomous driving technologies, and augmented reality mapping. Affirma’s investment aims to accelerate RMSI’s growth and reinforce its leadership in the spatial, engineering, and AI/ML sectors. “We will work closely with RMSI to strengthen the leadership team, pursue strategic and inorganic growth opportunities, and leverage our global network to scale the business,” said Udai Dhawan, Founding Partner and India Head of Affirma Capital. Vijay Nallan Chakravarthi, Partner at Affirma Capital, added that as AI and location-based technologies become increasingly ubiquitous, RMSI’s domain expertise and proven delivery record position it well to capitalise on future opportunities. Affirma Capital manages multiple investments in technology and engineering-driven sectors, including travel tech firm TBO Tek, telecom IT company Prodapt, and South Korea-based T-Map Mobility. The Agastya Capital India Growth Fund typically takes Rs 2–5 billion stakes in mid-market companies with enterprise values between Rs 5 billion and Rs 25 billion, primarily across consumer, healthcare, technology, and financial services sectors. Co-investor 360 ONE Asset, which has previously backed Bluestone, Vastu Housing Finance, Swiggy, and OneSource Specialty Pharma, said it was enthusiastic about RMSI’s next phase of growth. “We are excited to work with RMSI as it progresses towards a potential IPO,” said Sandeep Maheshwari, Senior Fund Manager at 360 ONE Asset. Commenting on the deal, Anup Jindal, Promoter, CEO and Joint Managing Director of RMSI, said the investment underscores the company’s three-decade-long expertise and reputation in the domain. RMSI’s clients include leading global technology companies, with services spanning geospatial analytics, engineering design, environmental modelling, and AI-driven mapping solutions. The funding is expected to accelerate RMSI’s expansion in digital engineering and AI-led services, as the company targets greater global market share and prepares for its next growth phase, including a potential IPO.

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