Investors can help fund future product development to make Navmii the ultimate, intuitive driving assistant.
• First opportunity for Navmii community to invest in smart navigation app
• Investments to fund Navmii’s artificial intelligence (AI) product development
Navmii, the smart navigation and traffic app for drivers, announces its first crowd-funded investment opportunity in partnership with leading crowdfunding site CrowdCube. Investors can help fund future product development to make Navmii the ultimate, intuitive driving assistant. The company aims to raise at least £1M, valuing the business at £26 million.
Navmii’s free mobile navigation app combines voice-guided navigation, live traffic information, local search and safe driving rating to create a community of smart, engaged and active drivers. The app is available for iOS, Android, Windows Phone and Blackberry and already has more than 26 million downloads and is available across 85 countries. Navmii is powered by its own proprietary mapping data and real-time Navmii community updates, combined with OpenStreetMaps to create free and accurate driving advice.
Capital raised from the campaign will be used to invest in future product developments for Navmii, including enhancements to voice-based social reporting and the application of artificial intelligence to deliver more accurate and intuitive driving experience. The new Navmii will scan the driver’s surrounding road conditions using the camera in their phone and will proactively warn the driver of oncoming traffic, road signs, hazards and safety cameras before the driver could possibly see them for themselves – it'll even suggest alternative routes! On hand regardless of the make, model or ownership of the car, Navmii will become a drivers own proactive, mobile personal driving assistant, recording journey statistics and flagging potential threats to the timing of journeys.
Voice activated reporting will amplify the Navmii community allowing members to report accidents and traffic in a bid to inform and alert other Navmii drivers nearby about changing road conditions. The Navmii community is at the core of the business model, which is reflected in its choice to initiate an equity crowdfunding campaign with Crowdcube.
Zoe Laycock, CMO, Navmii says, “The Navmii community has invested so much support and dedication in making the product the best smart navigation app. This Crowdcube campaign enables our community to own a share in our journey by investing in our future product development. The next step is a truly exciting one – we are determined to make Navmii the ultimate driving assistant and look forward to our community joining us on this path.”
Crowdcube enables entrepreneurs to bypass the traditional business angel, venture capital or bank finance routes, giving them more control and access to more investors. Navmii chose this outlet to enable its community of active users to invest from as little as £10.
You can view the full Navmii pitch here.
Navmii, the world leading free navigation and traffic app for drivers combining voice-guided navigation, live traffic information, local search and driver metrics. The Navmii app is available for iOS, Android, Blackberry and Windows Phone devices across the globe. Navmii apps are available for more than 90 countries on every continent on earth. Navmii has more than 24 million users and uses its own proprietary mapping data combined with the Open Street Map initiative to deliver reliable open sourced navigation to users, who can also contribute information to help the app improve.
As the world’s first and most successful investment crowdfunding platform, Crowdcube enables entrepreneurs to bypass the traditional business angel, venture capital or bank finance routes, giving them more control and access to more investors. For investors, Crowdcube provides them with a way to cherry-pick a stake in an innovative business that traditionally would have been restricted to corporate investors. In addition, they can now benefit from a fixed return per annum by lending money to more established companies offering a mini-bond on Crowdcube.
Since 2011, more than 160,000 savvy investors have registered with Crowdcube, helping to raise over £80 million of equity finance for over 243 business pitches including JustPark (raised £3.7m), easyProperty (raised £1.4 million), River Cottage (raised £1 million) and the Eden Project (raised £1.5 million in 24 hours).
Investing involves risk and should be done only as part of a diversified portfolio. Investing equity in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. Mini-bonds can be unsecured, non-convertible and non-transferable. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Crowdcube is authorised and regulated by the Financial Conduct Authority (No. 572026)
Media Contact for Navmii:
+44 (0) 7500 802530
This press release was distributed by ResponseSource Press Release Wire on behalf of XL Communications in the following categories: Men's Interest, Consumer Technology, Motoring, Business & Finance, Media & Marketing, Computing & Telecoms, Transport & Logistics, for more information visit https://pressreleasewire.responsesource.com/about.