The Navigation war is on!!
While Sequoia invested $7mn in SatNav, MapMyIndia has bagged $9mn (Series B round) from Qualcomm Ventures (VC arm of Qualcomm), Nexus India, KPCB and Sherpalo Ventures.
MapMyIndia earlier raised $3mn from Nexus India, KPCB and Sheraplo and it seems, these investors have invested in the B round as well.
MapmyIndia will use the investment for overseas expansion and will use Qualcomm to partner with handset manufacturers and vendors.
Through the partnership, we will leverage Qualcomm’s leading wireless technologies to grow in the telecom, automotive and internet ecosystems–handset manufacturers, mobile operators, automotive manufacturers, hardware vendors, chipset providers, and application developers – MapmyIndia (ET)
More developments in GPS Navigation space:
- Nokia launches Navigator, GPS Enabled Phone – Where is OVI?
- Navteq to Power Microsoft’s Live Map Data
- Navigation Roundup: MapMyIndia: iNav, SatNav take UGC route with roadsofindia
The navigation space is interesting, but there are some inherent challenges (related to unstructured data) which very few companies are able to solve (frankly, none so far) – read this interesting discussion on Why Sat Nav(s) are not for Indian consumers