Neev II Fund and Aavishkaar Capital, the investment arm of Aavishkaar Group, on Tuesday invested $20 million in spacetech firm NeoGeo in its Series A funding round.
The capital will enable the firm to deepen its platform and product portfolio through investment in research and development (R&D) and technical capabilities. It will allow the company to expand into international markets across the Middle East and the Americas and strengthen its team, it said in a statement.
ICICI Securities acted as the exclusive financial adviser for the transaction.
NeoGeo was founded in 2019 by Sreeramam and Brahmam.
The company provides integrated spatial intelligence solutions to government and corporate clients across natural resource management, disaster management, urban governance, utilities, infrastructure and smart cities.
The company operates across the geospatial value chain. This includes data acquisition using satellite imagery, LiDAR, drones and ground surveys, data processing, AI/ML-driven analytics, and the creation of tech-enabled industry-specific software platforms.
“This round allows us to invest decisively in that conviction: scaling our platform business, deepening R&D, expanding into international markets and hiring across engineering and delivery. In SBI Neev Fund and Aavishkaar Capital, we have found partners who understand both the technology and the execution imperatives of building foundational public infrastructure,” said Sreeramam GV, founder and chief executive officer (CEO), NeoGeo.
The company has built a portfolio of proprietary platforms including OptiFleet (fleet and network optimisation), GeoBalance (natural resource management), UrbanVista (urban planning and smart city visualisation), and InfraSync (infrastructure asset management).
By optimising spatial planning, NeoGeo drives climate mitigation through measurable resource efficiency and carbon abatement, while simultaneously enabling climate-resilient development and adaptation through proactive hazard and vulnerability mapping, it said.
“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 at Aavishkaar Capital.
“NeoGeo represents exactly the kind of scalable, high-impact opportunity that Neev II Fund seeks to back. The Company combines proven execution across complex situations with a clear transition towards platform-led, recurring revenue,” said Akshay Panth, CIO, Neev Funds.
