The funds will be utilised to enhance the company's current product portfolio as well as boost the depth of its map content, which is the backbone of all its products, Amit Prasad, founder, managing director and CEO of SatNav, told mediapersons here on Thursday.
The company's flagship GPS navigation software product SatGuide, which guides the user within a particular city or from one city to another across India, is currently available on Windows mobiles, personal digital assistance (PDA), personal navigation device (PND), laptop, desktop and on non-Windows phones.
The company intends to launch the product on other platforms like Symbian, Linux, Palm and Blackberry, he added.
"SatGuide at present provides all India data and over 30-odd city maps, which will be increased to over 72 cities by the end of this year. We will continue to expand by increasing points of interest (POIs) and area of map coverage significantly in India, besides extending our navigation solutions to Asia and Africa," Prasad said.
SatGuide is available through 2,000-odd stores including retail chains, in-car navigation, laptop, and individual dealers.