Geospatial Technology Firm NeoGeo Raises $20 Million

Indian geospatial technology startup NeoGeo has announced the closure of a $20 million (approx. ₹191 Cr) Series A funding round, co-led by Neev II Fund and Aavishkaar Capital.

The funding will be deployed to enhance NeoGeo's platform and product portfolio, invest in research and development, and bolster its technical capabilities and team. The company also plans to expand its operations into international markets, including the Middle East and the Americas.

Founded in 2019, NeoGeo offers geospatial intelligence solutions to government and corporate clients. Its services cater to sectors such as natural resource management, disaster management, urban governance, utilities, infrastructure, and smart cities.

NeoGeo operates across the geospatial value chain, acquiring data through satellite imagery, LiDAR, drones, and ground surveys, before processing and analyzing it using AI and machine learning. The company states it has completed over 200 projects and mapped more than 500,000 square kilometers.

This funding round coincides with India's increasing focus on leveraging geospatial data for governance, infrastructure development, and climate resilience planning. The National Geospatial Policy, introduced in 2022, aims to boost private sector involvement and integrate geospatial data into the nation's digital infrastructure.