Nexus India invests Rs 10 crore in MapMyIndia.com

The venture fund invests Rs 10 crore capital in CE Info Systems, the developer of MapMyIndia.com

New Delhi-based mapping firm CE Info Systems Pvt Ltd has received a Rs 10 crore investment from the Indian venture capital company, Nexus India Capital. CE InfoSystems, the owner of MapMyIndia.com, provides navigable maps and Geographic Information Systems (GIS) that lets users do location-based map search of places and routes through internet mapping, mobile navigation, car navigation, and GIS-based decision support systems.

Nexus India invests Rs 10 crore in MapMyIndia.com

The company has plans for targeting the consumers by offering them effective navigation, CE Info Systems co-founder and CEO, Rakesh Verma told agencyfaqs!. Verma said, "The idea is to take the product forward to the users by aggressive marketing. In the internet space we want to create larger number of users and making them come back to MapMyIndia over and over".

In the first round of funding that CE Info Systems received at the time of launch, by Kleiner Perkins Caulfield & Byers (KPCB), it built up its infrastructure. "With this incoming investment we are trying to go after navigation very aggressively, get maximum market share by getting consumers," added Verma.

CE Info Systems had earlier partnered with Yahoo India, Wayfinder and Airtel to offer mapping services to internet and mobile users in the country.

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