Hyderabad-based SatNav technologies, a GPS navigation firm, announced that it has signed MOU with Survey of India (SOI) for generation of value added products and services.
The strategic tie-up will enable SatNav Technologies to release the SOI-approved digital maps and custom map content within the public domain for commercial use in a range of navigation and location-based solutions (LBS) in the mobile and personal navigation system.
Publishing company Bennett, Coleman & Co Ltd (BCCL) picked up an undisclosed stake in SatNav Technologies in 2007. It was founded in 2000 by a group of ex-Satyamites led by Amit Prasad, who is the founder MD & CEO.
“ We are constantly building navigation applications keeping in mind our end user and through this map enhancement we expect to meet the growing market demand for navigation, map and location-based services and technologies,” said Prasad.
Another company which got funded in the space is digital map data company CE Info Systems, which got Rs 10 crore or $2.5 million. It runs MapMyIndia.com, an interactive online map service.