Sequoia Capital Invests Rs 29 Crore In SatNav

Hyderabad based SatNav Technologies has received $7 million (Approx Rs 29 crore) in a first round of funding by Sequoia Capital. The funds will be utilized to expand product portfolio and increase map content says founder and managing director Amit Prasad in the press conference. SatGuide, the firms flagship navigation solution, will be expanded to include other platforms like Symbian, Linux and Palm (Android?). Cities covered by the product will be expanded to 72 by year-end. The investment is expected to tide SatNav through 12 – 18 months.

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