VidTeq, a provider of VideoMap based Navigation, Location and Search solutions for businesses has raised series A funding from KITVEN, a venture capital fund operated by Karnataka State Industrial Infrastructure Development Corporation, Karnataka State Financial Corporation (KSFC), Small Industries Development Bank of India (SIDBI) and Karnataka Bio-technology & Information Technology Services. The financial terms of the investment have not been disclosed. The company intends to use the funds to expand their offerings including develpment of their mobile application and to expand their sales and marketing team. Following the funding round, KITVEN will join the company's board of directors. VidTeq was founded by Chandra Thimmannagari, Navada Muraleedhara and Ravi Narala and started offering video based navigation services in February 2009. Through its patented VideoMap technology, which comprises of a video clip of the complete route between source and destination with media such as business logos, background…
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