T-Mobile Venture Fund joins deCarta´s existing premier investors Cardinal Venture Capital, Mobius Venture Capital and Norwest Venture Partners. deCarta had already raised $32 million since 2003.
Self described as the “arms dealer of the LBS industry” by its CEO Kim Fennell, deCarta’s platform is used by a large number of online and mobile map-related applications: Telenav, Networks in Motion, Appello, Loopt, Ask.com, Hotels.com, Zillow and many websites of Yellow pages companies.
This round of funding is” focusing on investment from partners with whom we can develop commercial relationships that go beyond the investment; T-Mobile Ventures for instance invests in companies that bring promising technologies to the T-Mobile operating companies”, wrote Marc Prioleau, vice president of marketing at deCarta, in an email to GPS Business News.
This is the second investment made by T-Mobile Venture Fund in the location-based services market in a matter of weeks, after taking a stake in Seattle-based Pelago (read more here).