LONDON– Navmii Holdings plc, leading provider of GPS navigation mobile apps, today announced £2 million from investors as part of its current funding round.
“We are very excited by Navmii especially as user figures are growing faster than TomTom and Garmin combined on mobile a month in the App store and currently distribute 40 million adverts a month to users.”
Since launching in late 2009 Navmii has registered more than 8.2 million users and 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.
Talis Capital, a London-based investment adviser organized the finance having been impressed by the management team and their strategy as a mobile applications publisher.
Navmii will use the funds to further enhance the core GPS navigation services with extra crowd-sourcing features and accelerating growth plans into 22 new territories including China and Russia.
Matus Maar, director and co-founder, Talis Capital said: “We are very excited by Navmii especially as user figures are growing faster than TomTom and Garmin combined on mobile a month in the App store and currently distribute 40 million adverts a month to users.”
Vasile Foca, director and co-founder of Talis Capital: ‘We look forward to working with Peter Atalla and his management team who have previously run technology companies worth in the region of £30 million to £1 billion.”
Peter Atalla, CEO and founder of Navmii said, “The Talis Capital team have shown a very keen interest in our business and are excited by our 8.2 million user base. Rival company, Waze, have 20M users and raised $67m and yet we are ahead of Waze across 16 countries in Europe, Australia, Asia, and Africa, with zero marketing spend so far.”
ABOUT NAVMII
Navmii is a publisher of GPS location-based applications. Navmii designs, develops and supplies advanced GPS navigation and location based systems including Navmii, Navmii GPS Live, NavFree GPS Live with more than 8.2 million users to date.
The Navmii iPhone app is currently available for the UK, Ireland, Nigeria and USA. Navmii GPS Live is available for UK, Ireland and continental Europe including France, Germany, Spain, Portugal, Denmark, Austria, Switzerland, Sweden and The Netherlands. NavFree GPS Live from Navmii is available for Argentina, Australia, Austria, Belgium, Brazil, Canada, Denmark, Finland, France, Germany, India, Ireland, Italy, Luxembourg, Mexico, Norway, New Zealand, Portugal, Sweden, South Africa, Spain, Switzerland, UK, and USA, including individual states.
ABOUT TALIS CAPITAL
Talis Capital is an Investment Adviser for high net worth individuals, family offices and other sophisticated investors. The team behind Talis Capital has been successfully advising on a portfolio of investments since early 2009, already achieving successful exits. Talis has a generalist approach with main experience in commodities & agriculture related investments, technology & digital media and prime residential developments.