Private Equity

PE Fund Investments

Spatial data player NextBillion.ai raises $21-M led by Mirae Asset

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NextBillion.ai, a Singapore- and Hyderaabad-based spatial data and mapping platform for enterprises, has raised a USD 21 million round led by Mirae Asset. Existing investors Lightspeed Ventures, Microsoft's venture arm M12 and Alpha Wave Global also participated in the Series B round. The proceeds will be used to expand into North America and Europe and also for building and managing decentralized geospatial technology stacks for enterprises. NextBillion's AI-powered APIs and SDKs help enterprises manage their spatial data at a petabyte scale. The firm claims to support over 30 customers across more than 20 countries. The firm's solutions are used across industries including ride hailing, food delivery, big tech and logistics.

From the Venture Intelligence PE-VC Deal Database: Between June-20 and May-21, NextBillion.ai had raised over USD 13 M from M-12, Alpha Wave Global, Lightspeed Ventures, Others.