India: SatNav Technologies, a cloud based IT products company, is seeking investments from High Networth Individuals (HNI) in India. In the past, SatNav has partnered with Waze Inc., an Israel-based mapping company which was recently acquired by Google.
In the last quarter, SatNav has expanded its operations through new projects and partnerships in Singapore, Australia and Spain. One of the world’s top five venture capitalist firms Sequoia Capital and India’s largest media house Times Group are Series A investors. They hold 40% shares in the company. SatNav is now seeking investment from HNIs for sales growth before going for bigger Series B funding in 2014.