SatNav gets $7 Mn from Sequoia

Hyderabad: Amit Prasad founded Satnav Technologies raised $7 million funding from Sequoia Capital. The new funding will be utilized for scaling up its products and services.

The company has already mapped over 30 cities across the country and expects to add 72 more cities and towns by year end, making these services accessible to people over their mobile phones, desktops, laptops and also in stand-alone automobile devices. "About 1,000 people are being engaged for its mapping-related work," said Amit Prasad, MD and CEO, SatNav Technologies.

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The company has so far invested $10 million in developing and early stage marketing of a wide range of navigation products and services.

Mohit Bhatnagar, The Operating Partner, Sequoia Capital said, "SatNav has a wide variety of solutions that millions of consumers can access from their homes, offices or when travelling on the roads through their mobiles phones, computers and personal navigation devices."

The Hyderabad based company has made its software platform-independent and this works on most of the smart phones and phones with different operating systems. The company is working with Asus, HP, iMate to offer navigation in their phones and are in discussions with automotive companies to offer personal navigation device.

Founded in January 2004, SatNav Technologies has a direct presence in California, New Jersey and Singapore, as well as sales partners spread across 10 countries.