United Maps announced 7 digits Series-A funding

United Maps announced 7 digits Series-A funding
Germany-based, hyperlocal map data provider United Maps announced today the successful closing of a seven digits Series-A funding round. The existing consortium of High-Tech Gruenderfonds, SeedFonds Bayern and SpaceTec Capital Partners teamed up with ClusterFonds StartUp! to extend the initial seed investment into a Series-A round.

Holger Heinen, Senior Investment manager with High-Tech Gruenderfonds, stated: "We invested further on because United Maps' approach, technology and the B2B model positions the company very well for a successful growth in the emerging Geoweb."

United Maps has developed a unique, proprietary “map conflation” technology. To make it simple United Maps takes the cadastral data from national mapping agencies and “vectorize” it to add relevant attributes into base maps such as these of NAVTEQ or Tele Atlas. United Maps has created algorithms, toolsets and a workflow which allow to develop quality products in a limited timeframe.

After only six months of production, United Maps recently introduced 'UM-DE': a comprehensive, vectormap data for Germany in scales up to 1:2,000. For this country data from local mapping agencies "Bundesamt fuer Kartografie und Geodaesie" (BKG) and "Arbeitsgemeinschaft der Vermessungsverwaltungen der Laender der Bundesrepublik Deutschland" (AdV) has been used.

Wednesday, July 29th 2009

Nav & Telematics | Sport and Outdoor | Location Based Services | Tech & Innovation | Market Data | Finance & Legal | People and Jobs | Voices of the industry | Press Releases