Exhibit 99.1

TELENAV REPORTS SECOND QUARTER FISCAL 2012 FINANCIAL RESULTS

Sunnyvale, Calif. – January 26, 2012 – TeleNav, Inc. (NASDAQ:TNAV), the leader in personalized navigation, today announced its financial results for the second quarter of fiscal 2012 ended December 31, 2011.

Financial Highlights

“In the second fiscal quarter, Telenav delivered solid financial results and continued to execute on its strategic and international growth initiatives, which together grew to 22 percent of total revenue for the quarter,” said HP Jin, president, CEO and co-founder of Telenav. “We continued to expand our reach as we grew total paid subscribers in the quarter and nearly doubled the user base of our freemium offerings through carriers and app stores.”

Mr. Jin continued, “As a leader in personalized navigation and LBS with a growing presence in automotive navigation services and mobile advertising, we are well positioned to capitalize on the large and growing market opportunities related to LBS and the mobile internet. We received an enthusiastic response to our new consumer-facing brand, Scout, a daily personal navigator that will be the first to work seamlessly on the web, mobile phones, and in cars. Scout was a top-three finalist for CNET’s 2012 Best of CES Award in the Car Tech category. It is designed to provide consumers with

more than just directions from point A to point B, but rather to provide them with a personalized search, discovery, and navigation solution no matter where they are. We also believe that there will continue to be a strong global market opportunity in premium paid navigation, whether through carrier bundles, monthly recurring subscribers, or premium upsells. Although we expect a mix shift from paid to freemium offerings in the domestic carrier market will present challenges in the near term, we believe this market will continue to be an important source of distribution for our products and a meaningful source of cash flows to support continued innovation and long-term growth in our business.”

Net income for the second quarter of fiscal 2012 was $10.2 million, or $0.23 per diluted share, which compares with net income of $10.0 million, or $0.22 per diluted share, for the second quarter of fiscal 2011. Net income for the second quarter of fiscal 2012 benefited from a favorable tax ruling that reduced quarterly tax expense by approximately $2.1 million.

Non-GAAP net income for the second quarter of fiscal 2012 was $11.4 million, or $0.26 per diluted share, which compares with $10.8 million or $0.24 per diluted share in the second quarter of fiscal 2011. Non-GAAP net income excludes stock-based compensation expense net of the related tax effect.

Recent Business Highlights

Business Outlook

The company currently is in discussions related to its contract with Sprint, one of its largest customers. The contract expires as of December 31, 2012, however Sprint may terminate the obligations related to Telenav’s bundled navigation services beginning July 1, 2012, with 30 days prior notice to Telenav. The company believes that these discussions, if successful, will likely result in modifications to the duration, financial terms, and promotion of Telenav’s services offered to Sprint customers under the contract, as well as a significant reduction in revenue from Sprint related to the bundles, beginning in the quarter ending June 30, 2012. Telenav believes that its services provide excellent value to Sprint subscribers and is hopeful that it will reach agreement on an amendment and extension of the contract. However, there can be no assurance as to what specific terms may be achieved or if Sprint will remain a customer beyond the term of the current contract. If no changes to the current contract are agreed to by the parties, revenue recognized from the Sprint bundle relationship will not be reduced for at least the March and June quarters of 2012. In the quarter ended December 31, 2011, Sprint represented 38% of the company’s total revenue.

Based on uncertainties related to the Sprint contract, the company is not updating its guidance for the full fiscal year 2012 ending June 30, 2012 and investors should not rely upon previous guidance for the full fiscal year 2012.

For the third fiscal quarter ending March 31, 2012, Telenav offers the following guidance, which is predicated on management’s judgments and assumes no impact in the quarter from any potential amendment of its current agreement with Sprint.

For the third quarter of fiscal 2012 ending March 31, 2012:

The above information concerning guidance for the third fiscal quarter ending March 31, 2012 represents Telenav’s outlook only as of the date hereof, and Telenav undertakes no obligation to update or revise any financial forecast or other forward looking statements, as a result of new developments or otherwise.

Conference Call

The company will host an investor conference call and live webcast at 2:00 p.m. PST (5:00 p.m. EST) today. To access the conference call, dial 888-215-6899 or 913-312-1276. The webcast will be accessible on Telenav’s investor relations website at http://investor.telenav.com/. A replay of the conference call will be available approximately two hours after its completion and will be available through Tuesday, Jan. 31, 5:00 p.m. PST. To access the replay, please dial 888-203-1112 or 719-457-0820 and enter pass code 8842465.

Use of Non-GAAP Financial Measures

Telenav prepares its financial statements in accordance with generally accepted accounting principles for the United States, or GAAP. The non-GAAP financial measures such as net income and earnings per share information included in this press release are different from those otherwise presented under GAAP. The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures:

Stock-based compensation expense relates to equity incentive awards granted to our employees, directors, and consultants. Stock-based compensation expense has been and will continue to be a significant recurring non-cash expense for Telenav. While we include the dilutive impact of such equity awards in weighted average shares outstanding, the expense associated with stock-based awards reflects a non-cash charge that we exclude from non-GAAP net income.

Our non-GAAP tax rate differs from the GAAP tax rate due to the elimination of the tax effect of the GAAP stock compensation expenses that are being eliminated to arrive at the non-GAAP expenses.

Telenav has provided these measures in addition to GAAP financial results because management believes these non-GAAP measures help provide a consistent basis for comparison between periods that are not influenced by certain non-cash charges and therefore are helpful in understanding Telenav’s underlying operating results. These non-GAAP measures are some of the primary measures Telenav’s management uses for planning and forecasting. These measures are not in accordance with, or an alternative to, GAAP and these non-GAAP measures may not be comparable to information provided by other companies. Reconciliations of the GAAP to non-GAAP results are presented at the end of this press release.

Forward - Looking Statements

This press release contains forward-looking statements that are based on Telenav management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning Telenav’s anticipated or assumed future financial results, shares outstanding and anticipated business activities. Actual events or results may differ materially from those described in this document due to a number of risks and uncertainties. These potential risks and uncertainties include, among others, the risks associated with the renewal, if any, of our agreement with Sprint, the terms of such renewal being adverse as it relates to future revenue, term and other terms; fluctuations in Telenav’s quarterly and annual operating results; Telenav’s dependence on Sprint, AT&T, and Ford for a substantial majority of its revenue; changes in the contractual relationships with AT&T and other wireless carriers to whom Telenav provides services, as have occurred in the past; automotive equipment suppliers (“OEMs”) and consumer acceptance of Scout by TeleNav, Scout for Cars and other Scout applications; competition from other market participants who may provide comparable services to subscribers without charge; Telenav’s short history in the automotive navigation market; continued production of vehicles with and adoption by auto buyers of Telenav’s products offered by Ford and the products offered by other automotive OEMs; the timing of new product releases and vehicle production by our automotive customers; Telenav’s ability to increase revenue from premium services; successful conversion of freemium users to paid subscribers; Telenav’s inexperience in the mobile advertising market; Telenav’s ability to estimate and sustain or increase its revenue and profitability; Telenav incurring losses, Telenav’s ability to attract, migrate and retain new wireless carriers and auto manufacturers and automotive OEMs; Telenav’s ability to issue new releases of its products and services and expand its product portfolio; changes to current accounting standards which may have a significant, adverse impact upon Telenav’s financial results; the introduction of new products by competitors or the entry of new competitors into the markets for Telenav’s services and products; the impact of current or future intellectual property litigation and claims for indemnification and litigation related to U.S securities laws and economic and political conditions in the US and abroad. We discuss these risks in greater detail in “Risk factors” and elsewhere in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2011 and other filings with the U.S. Securities and Exchange Commission (SEC), which are available at the SEC’s website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date made. You should review our SEC filings carefully and with the understanding that our actual future results may be materially different from what we expect.

About Telenav, Inc.

Telenav’s mission is to help make people’s lives easier, less stressful, more fun, and more productive while they are on the go. Our personalized navigation services help people make faster and smarter daily decisions about where to go, when to leave, how to get there, and what to do when they arrive. More than 30 million people worldwide already connect with our services from mobile phones, tablets, computers, cars, and developer applications.

We aim to be everywhere people need us. Our partners are wireless carriers, automobile manufacturers and OEMs, app developers, advertisers and agencies, as well as enterprises large and small. Our partners include: AT&T, Bell Mobility, Boost Mobile, China Mobile, Ford, NII Holdings, QNX Software Systems, Rogers, Sony, Sprint Nextel, Telcel, T-Mobile UK, T-Mobile US, U.S. Cellular, Verizon Wireless and Vivo Brazil. You can also find us in mobile app stores and on the web at www.Telenav.com and www.scout.me.

Follow Telenav on Twitter at www.twitter.com/Telenav or on Facebook at www.facebook.com/Telenav.

Copyright 2012 Telenav, Inc. All Rights Reserved.

“Telenav,” “Scout,” “Scout by Telenav,” the Telenav and Scout logos, “Telenav.com” and “scout.me” are registered and unregistered trademarks and/or service marks of Telenav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.

Investor Relations Contact:

John Swenson

Telenav, Inc.

408.990.1422

johnsw@Telenav.com

Telenav, Inc.

Consolidated Balance Sheets

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Unaudited Reconciliation of Non-GAAP Adjustments

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