MapmyIndia announced that it will receive $ 9 million funds as part of its third fund raising exercise from existing investors namely Kleiner Perkins Caufield Byers, Sherpal Ventures and Nexus India Capital who will now be joined by Qualcomm Ventures.

Rakesh Verma, promoter and managing director of MapmyIndia, said, “With this new investment and accelerated collaboration with Qualcomm and others, we will aggressively engage all leading players of the ecosystem – handset manufacturers, mobile operators, automotive manufacturers, hardware vendors, chipset providers, and application developers - with India’s best digital maps, GPS navigation products and location-based services.”

“We strongly believe that MapmyIndia will change the face of these industries in the coming few years, and are glad to participate, collaborate and accelerate this process,” said Karthee Madasamy from Qualcomm Ventures.