New Delhi, India, August 10, 2007: CE Info Systems, which owns MapMyIndia.com, has received an investment of Rs 10 crore (2.5 mn USD) from venture capital firm, Nexus India Capital. Following the investment, Suvir Sujan, managing director, Nexus India, has joined the board of CE Info Systems.
CE Info Systems, GIS provider in India, has been focussed on the development of navigable maps. The company recently released the first version of nationwide GPS-based road network navigable maps. These navigable maps are designed for use on multiple media including internet portals, car navigation, mobile navigation and several other location-based and GIS applications targeting the needs of consumers and enterprises.
CE Info Systems has partnered with Yahoo India, Wayfinder and Airtel to offer mapping services to internet and mobile users in the country. With intent to reach out to a larger audience in the consumer space, the company has also launched India’s first interactive mapping portal MapMyIndia.com.
Rakesh Verma, co-founder and CEO, CE Info Systems, has said, “We chose to partner with Nexus because of the team there. They understand how companies are built. We share a common understanding with them as well as existing investors, Kleiner Perkins and Sherpalo Ventures, on how to take this company forward.”
