NextBillion.ai Raises Funding $6.25M From M12
- ByStartupStory | May 21, 2021
NextBillion.ai raises funding $6.25M Series A round, raising the capital from M12, the venture fund arm of Microsoft. In June last year, Nextbillion AI raised funding of $7 million in the Series A round from Lightspeed Venture Partners and Falcon Edge Capital. The startup claimed that the latest round NextBillion.ai raises funding
from M12 has come in at a significant valuation jump.
NextBillion.ai raises funding, from the venture arm of Microsoft, to rapidly expand into global markets.
On, NextBillion.ai raises funding, Co-founder Ajay Bulusu said, “As a high-growth company, working with the right VC was vital for us. In the M12 team, we have found a long-term champion that is helping us scale and expand to North America and other global markets.”
The founder of NextBillion.ai aims to reimagine a geospatial data platform as opposed to being a mere replacement for traditional mapping data or location services. The startup is able to provide personalised location-based services for enterprises through a SaaS model.
Abhi Kumar, Partner at M12, said regarding NextBillion.ai raises funding
“Globally, companies spend over $6.7B a year on their mapping stack, and this spend is growing faster than ever. NexBillion.ai is leading the disruption of geospatial data with great customer traction and a world-class team.”
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