Hyderabad-based digital map solutions company, SatNav Technologies, has received $7-million (approximately Rs 29 crore) in first round of venture capital funding from Sequoia Capital.
The investment will be used to enhance the product portfolio of SatNav besides boost the depth of the company’s map content which is the backbone of all its products.
SatGuide is a famous navigation solution, which guides the user within a particular city or from one city to another city throughout the country.
The application is currently available on Windows mobiles, personal digital assistance (PDA), personal navigation device (PND), laptops, desktops and on non-Windows phones.
The company intends to launch the product on other platforms like Symbian, Linux, Palm and Blackberry.
SatNav was founded by Amit Prasad in 2000 under the Satyam Entrepreneur Incubation Programme.
The SatGuide presently covers 30-odd cities maps in India. The company plans to increase its coverage to over 72 cities by the end of this year.