NextBillion.ai Raises $21 Million To Simplify City Routing With AI
AI-powered city routing optimization company NextBillion.ai has raised $21 million through a Series B funding effort led by Mirae Asset Capital.
Created on May 23|Last edited on May 23
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Navigating the endlessly complex streets of a bustling city and the winding roads of the surrounding suburbs can get immensely complex, yet it's a task every driver must become adept at for success. Whether drivers are using mobile mapping applications or relying on their learned instincts, or even those who are sitting behind computer screens planning optimal stationing points for cabs, understanding the layout of your local area is required.
NextBillion.ai is a company that wants to elevate users' understanding of the area around them using customizable AI-powered mapping APIs. By using machine learning on relevant datasets, including those uploaded by customers for their own situations, NextBillion.ai's technology can offer services for optimization of routes featuring multiple stops, determining the best options for ride sharing vehicle management, and much more.
Who's funding NextBillion.ai and where's the money going?
Today, NextBillion.ai has announced the completion of a Series B funding round for a total of $21 Million. The funding round was led by Mirae Asset Capital with additional participation from M12 (a Microsoft venture fund), Lightspeed Venture Partners, and Alpha Wave Global.
The money will be going towards the further growth and expansion of the company and development of their services in the aim of creating a better product for a growing customer base.
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