Global private equity and venture capital news and research

Nokia’s HERE acquires Carmel, Horizons-backed Desti

3 Jun 2014

exitThe venture backers of smart travel planner Desti have exited the company to Nokia‘s mapping business HERE.

The company was spun out of SRI International in 2011 and was backed by venture capital firms Horizon Ventures and Carmel Ventures.

Desti enables users to accommodations, attractions, activities and dining spots by considering the context of each request and matching it specific queries.

Other companies backed by Carmel Ventures include NoSQL databases startup Garantia Data, which raised a $10m round led by the firm and Bain’s venture capital arm last November.

The NoSQL market is projected to top $1bn in revenues by 2016 and Garantia said Redis should capture 15 per cent of the market in the next few years.

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