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

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