B&Y in Satellite Navigation App Raise

Beer & Younghave just raised an additional £350,000 in development capital for our client’s Satellite Navigation App bringing their total raised to £1,700,000. Their app is the first free product of its type on all smart phones across the line.

Our client is delighted with their success since they first approached us to raise marketing capital. They have recently signed several significant contracts, including one with Nokia to supply traffic data and a B2B partnership with Microsoft; increased their international availability from 52 to over 85 country maps and grown their downloads to 26million helping drivers navigate 37million miles of road per year. The company now employs a team of 40 people and has recently agreed to supply the satnav equipment for the €1million sports cars of a luxury Italian car company.

At B&Y we continue to be active across all markets from development capital for established firms, exceptional early stage businesses and of course, turnaround. We raise capital through our business angel network with investments ranging between £250,000 to £5million so please do feel free to get in touch to see how can help.