MapmyIndia, India’s leading digital maps and navigation services provider, today announced that Qualcomm Ventures has led a round of strategic investment of USD 9 million in the company along with existing investors Kleiner Perkins Caufield Byers, Sherpalo Ventures and Nexus India Capital.
The investment will leverage Qualcomm’s worldwide leadership in telecom technology and mobile chipsets and MapmyIndia’s leadership in India’s digital maps, location-based services and GPS navigation, to empower the entire telecom, automotive and internet ecosystems. With 3G rolling out in India and growing demand for richer data service, handset manufacturers and mobile operators can go-to-market quickly today with GPS navigation and next-generation location-based services powered by India’s best and most comprehensive digital map, data and solutions from MapmyIndia. The automotive sector can look to enhance in-car safety and infotainment through next-generation GPS navigation and telematics products from MapmyIndia and Qualcomm. Converged devices, which marry the internet with mobility, can benefit from MapmyIndia’s server platform to deliver maps and navigation information across internet, mobile, in-car and digital TV.
Karthee Madasamy from Qualcomm Ventures, said “Qualcomm and MapmyIndia have a shared vision, mission and history of empowering the ecosystem with underlying technology and platform – Qualcomm in the telecom sector with its underlying chipsets and carrier technology, and MapmyIndia in the digital mapping sector that powers location-based services and GPS navigation products across the internet, mobile, in-car and enterprise industries. We strongly believe that MapmyIndia will change the face of these industries in the coming few years, and are glad to participate, collaborate and accelerate this process”.
Rakesh Verma, Promoter and Managing Director of MapmyIndia, said “MapmyIndia has been single-mindedly driven with a passion and vision to digitally map India for the last 16 years. We are proud and excited that Qualcomm has shown its belief in the huge potential of the Indian market, our industry, and MapmyIndia. With this new investment and accelerated collaboration with Qualcomm and others, we will aggressively engage ALL leading players of the ecosystem – handset manufacturers, mobile operators, automotive manufacturers, hardware vendors, chipset providers, and application developers – with India’s best digital maps, GPS navigation products and location-based services.”
Suvir Sujan, Partner, Nexus India Capital, said “We are extremely glad that Qualcomm has joined the investor group of MapmyIndia, as this validates the leadership position and potential MapmyIndia has demonstrated in the digital mapping space. Qualcomm brings the right strategic experience, expertise and reach to benefit all – MapmyIndia, the industry, and end users”.
MapmyIndia (CE Info Systems (P) Ltd.), a New Delhi-based ISO 9001-2000 Company founded in 1992, is India’s leader in premium quality digital map data and consumer navigation services. Since 1994, through continuous field surveys and state-of-the-art mapping technology, the company has built its proprietary MapmyIndia Maps, the most comprehensive, accurate, robust and reliable navigable map dataset for all India. MapmyIndia is driving the Indian navigation industry by providing internet, mobile and in-car navigation products to end consumers directly as well as in partnership with leading international and national players. The company has been providing GIS based enterprise solutions to over 500 leading corporate and government organizations in every vertical. In 2004, MapmyIndia was short listed by NASSCOM as a showcase company for IT innovation in India. Most recently, MapmyIndia’s Managing Director was elected by GPS Business News as the “World’s GPS Businessman for the year 2007” for driving the navigation industry in India.
For more information, please visit www.mapmyindia.com