NAVX has been named as one of the most promising private technology companies in the 2008 Red Herring 100 Europe. The winners have been announced at the Red Herring Europe event taking place this week on the Mediterranean island of Malta, where the companies named will be presenting their technologies to an audience of leading entrepreneurs, financiers and corporate strategists.
Every year the editorial team of Red Herring analyses hundreds of cutting edge companies across Europe and selects the 100 that are best positioned to grow at an explosive rate.
Established in 2005, Paris-based Navx is a leading provider of services and content for GPS devices, such as personal navigation systems. Its subscription-based, real-time services deliver rich information for its customers such as the price of petrol at nearby service stations, the locations of radar speed cameras, restaurant guides and tourist information.
NAVX also recently announced a platform which allows travellers to prepare for, record and share details of trips and holidays, positioning places and notes of interest onto online maps.
Navx services are compatible with all major GPS brands, including Garmin, Magellan, Medion, Mio, Navigon, Navman and TomTom. Navx services and content are available in eight countries and are translated into six languages.
Jean Cherbonnier, CEO of NAVX, commented: "For anyone involved in technology – particularly the creation and growth of early-stage companies – Red Herring is seen as something of an industry bible. To be named by its editorial team as one of Europe's most promising private companies is therefore clearly a great honour for NAVX and an endorsement of the company's potential. The win marks a significant year for the company as we have expanded our service offerings into a number of key European markets outside our home territory of France and we will continue to expand our international offering throughout 2008."
