GPS navigation app raises over $3 million from investors

Navmii Holdings, a UK headquartered provider of GPS navigation mobile apps, has received £2 million (US$3.13 million) from investors as part of its current funding round. Since launching in late 2009, the company has registered more than 8.2 million users and says it is growing at a rate of more than 550,000 users a month. The Navmii apps (Navmii and Navfee) have achieved the no.1 position on the Apple Apps store in the navigation category in many key markets including the UK, US, Canada, France, Germany, I
July 18, 2012 Read time: 1 min
RSS2196 Navmii Holdings, a UK headquartered provider of GPS navigation mobile apps, has received £2 million (US$3.13 million) from investors as part of its current funding round.

Since launching in late 2009, the company has registered more than 8.2 million users and says it is growing at a rate of more than 550,000 users a month. The Navmii apps (Navmii and Navfee) have achieved the no.1 position on the Apple Apps store in the navigation category in many key markets including the UK, US, Canada, France, Germany, India, and Spain.

The company will use the funds to further enhance the core GPS navigation services with extra crowd-sourcing features and to accelerate growth plans into 22 new territories including China and Russia.
Location Based Systems

For more information on companies in this article

Related Content

  • Shipments of NFC-enabled handsets reached 30 million units in 2011
    April 4, 2012
    According to a new research report by Berg Insight, global sales of handsets featuring near field communication (NFC) increased ten-fold in 2011 to 30 million units. Growing at a compound annual growth rate (CAGR) of 87.8 per cent, shipments are forecasted to reach 700 million units in 2016. The global rise in smartphone adoption is also driving higher attach rates for other wireless connectivity technologies in handsets including GPS, Bluetooth and WLAN. These connectivity technologies are already a standa
    Read More
  • Global toll revenues $8.5bn while technology ‘battles’ continue
    April 9, 2014
    ABI Research’s Dominique Bonte talks to Jason Barnes about trends in tolling and how a wider appreciation of technology options is sorely needed. Global Electronic Toll Collection (ETC) solution revenues will grow to $8.5bn by 2018, with ETC becoming a main source of funding for both Intelligent Transport Systems (ITS) and Vehicle-to-X (V2X) cooperative infrastructures, according to a new report from ABI Research (Chart 1). But, says the report’s author, ABI Research vice president and practice director Dom
    Read More
  • Report on the impact of recession on infrastructure funding worldwide
    May 10, 2012
    A new report examines how aggressive government belt-tightening and financial market deleveraging restrained worldwide infrastructure investments for 2012 and probably for the next five years. In the US, for instance, Infrastructure2012: Spotlight on Leadership, released by the Urban Land Institute (ULI) and Ernst & Young, says that constrained public budgets and a growing recognition at the local level of the importance of infrastructure, combined with lack of action at the federal level, are causing state
    Read More
  • New beginning for Think EV car maker
    April 19, 2012
    A court-appointed trustee has selected Russian entrepreneur Boris G. Zingarevich, whose investment operations are based in St. Petersburg, Russia, as the winning bidder for Think Global electric vehicle manufacturer, following a bankruptcy proceeding initiated by the Norwegian carmaker last month. In addition, Zingarevich has signed a memorandum of understanding with American advanced lithium-ion battery maker Ener1, and Finnish automobile engineering and manufacturing concern Valmet Automotive, to cooperat
    Read More

Highlighted Content