$9 Million Investment for MapmyIndia


Thursday 26 Feb 2009

Qualcomm Ventures has led a round of investment of $9 million in New Delhi-based CEInfo systems. Others in the round include Kleiner Perkins Caufield Byers, Sherpalo Ventures and Nexus India Capital.

Qualcomm manufactures telecommunications technology and mobile chipsets. CE Info Systems produces digital maps called MapmyIndia, location-based services and GPS navigation systems. The other players are venture capitalists.

CE Info has been developing content from field surveys since 1994, firstly as a partner of MapInfo Corp, and later in its own right. It provides internet, mobile and in-car navigation products directly to consumers.

The company has also entered into partnerships with other international and national players. The company has provided GIS based enterprise solutions to more than 500 organisations.

In mid-2008, the company announced version 2 of its MapmyIndia Navigator. It offers street-level maps for 174 cities in India. This is believed to be the best street level coverage available for Indian cities. Tele Atlas, for instance, claims to have detailed coverage of only 8 cities; In September 2008, Microsoft recently announced a deal with Navteq that includes coverage of 9 cities.

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