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MapmyIndia raises venture funds from Qualcomm

New Delhi, India: MapmyIndia, India’s digital maps and navigation services provider, announced that Qualcomm Ventures has led a round of strategic investment in the company with participation from existing investors Kleiner Perkins Caufield Byers, Sherpalo Ventures and Nexus India Capital.

The investment will leverage Qualcomm’s wireless technologies and MapmyIndia’s digital maps, location-based services and GPS navigation, to empower the entire telecom, automotive and internet ecosystems. With the recent launch of 3G in India, and growing demand for rich data services, device manufacturers and mobile operators can go-to-market quickly with GPS navigation and advanced location-based services on handsets and Personal Navigation Devices (PND) powered by India’s digital map, data and solutions from MapmyIndia. The automotive sector can look to enhanced in-car safety and infotainment through next-generation GPS navigation and telematics products from MapmyIndia and Qualcomm.