Mumbai: Global player in the arena of digital geospatial information and services, Magnasoft has brought on board Ravi Shelvankar as chief business officer (CBO) of hi-tech & automotive division, North America.

Magnasoft 3.0 is getting strengthened with exceptional additions to its leadership teams across all verticals. Shelvankar’s appointment is the right next step for Magnasoft to make a significant impact on the $440 billion geospatial markets, said the company in a statement on Saturday.

"In our newest version, we are largely focusing on new verticals such as utilities & communications and hi-tech & automotive. The hi-tech market is growing exponentially," said Magnasoft co-founder & CEO Bobbie H Kalra. "The global autonomous vehicle market is projected to garner $556.67 billion by 2026. Moreover, hyperscalers are exhibiting unprecedented growth and Magnasoft is aiming to play an important role in this growth journey."

Shelvankar has over 20 years of experience in directing leading-edge services business models, strategic sales, and Fortune 500 key account management with an outstanding record of achievement in complex multimillion-dollar, multiyear deals and contracts. He worked with companies such as ValuePoint Technologies, CSS Corp, Sify Americas, and Infosys.

“Keeping in view the vast leadership experience that Ravi holds in the hi-tech industry, his mentoring will prove invaluable at this time. I am confident that under his leadership many important business relations will flourish,” said Kalra on the new appointment.

Speaking on his new role, Shelvankar said, “Magnasoft brings in the unique blend of diverse domains – from automation and labeling to HD mapping to reference data curation combined with expertise in managing data from different sources such as cameras, LiDAR, GPS, IMU, and radars. It is exciting to be a part of this growing team."