French location-based services provider Goodkap raised €400,000 in a second round of funding, said the company in a press release today. This fund raising was made from undisclosed “European private investors”, valuating the company at €5 million. Another “major” round of funding is supposed to be ongoing according to the same press release.

Goodkap was started last year in France in launching a connected Personal Navigation Device based on Intrinsyc’s Destinator navigation software and their “ToBe” Gateway server technology. This PND was offering real-time traffic information, gas price, parking availabilities, ride sharing services and road-side assistance.

The Goodkap-branded product did not seem to have made inroads into major distribution channels. Another white labeled version was then sold by speedcam warning specialist Coyote Systems, but we learned recently that Goodkap lost the contract for the second version, now powered by another French company, Mobile Devices Ingenierie, which has a long track record in telematics.

Goodkap is nevertheless mentioning several new contracts with companies such as Renault Diac Overlease (car leasing), Samsung and Alerte GPS (speed warning systems). The company is now playing a B2B strategy, offering its white label connected PND and a Software Development Kit (SDK) said to offer real-time services for several mobile platforms.

At this stage, one could wonder what is the real intellectual property of Goodkap. Unfortunately we have now answer to this question - over the last 12 months, GPS Business News has made several attempts to meet with the executive team, without any success thus far.