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.

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Infrastructure Energy

04 May 2026

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

Infrastructure Urban

04 May 2026

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..