NextBillion bags $21 Mn in Series B funding round led by Mirae Asset
- ByStartupStory | May 23, 2022
Next Billion, a Singapore-based spatial data, and mapping platform announced that the firm has raised $21Million in a Series B funding round led by Mira Asset Venture Investments. Existing investors Alpha wave, Lightspeed, and Microsoft’s venture arm M12 have also joined the round. The firm also raised additional funds of $6.25 Million as a part of extended series A funding round a year ago. So far, the firm has raised $34 Million since its launch.
Spatial data platform, NextBillion decided to utilize the funds to expand its presence globally, enlarge its services in North America, and Europe along to construct and manage decentralized geospatial technology stacks for enterprises.
Founded in 2020, NextBillion empowers enterprises to create, grow, and manage their geographical data ecosystems. The company’s AI-powered APIs and SDKs assist businesses in managing petabyte-scale geographical data. The firm provides service to over 30 customers in over 20 countries and handles billions of API requests every month.
Founded by Gaurav Bubna, Ajay Bulusu, and Shaolin Zheng, the firm has recorded 4 times growth in revenue and 10 times increase in customer base. The firm aims to increase it 4 times by 2022.
NextBillion.ai technologies are employed in a variety of sectors, including ride-hailing, food delivery, big tech, and logistics. Previously, the company created the spatial data platform for Grab, the Southeast-Asian super-app.
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