- It said that Nextbillionmaps, the first product of Nextbillionai is an AI-first map Saas Platform that provides enterprises with a range of API’s like routing, navigation, direction and distance matrix
- Nextbillionai has onboarded Hemant Mohapatra, partner at Lightspeed and Navroz Udwadia, co-founder and partner of Falcon Edge Capital to the Board of Directors
Enterprise AI platform Nextbillion.ai has announced that it has raised $7 million Series A investment co-led by Lightspeed Venture Partners and Falcon Edge Capital. It was co-founded by Ajay Bulusu, Gaurav Bubna, and Shaolin Zheng and aims to be the global leader in AI-powered hyperlocal solutions.
Areas like mapping, Natural language processing (NLP), content moderation, and facial-recognition related challenges multiply with hyperlocal nuances peculiar to emerging markets as per the company. This makes solutions made for the developed world inefficient for over a billion users. The company aims to serve these unserved/underserved next billion users, starting with comprehensive and innovative mapping solutions.
Enterprise solutions around Maps, Facial AI and NLP
Hemant Mohapatra, partner, Lightspeed Ventures said, “The opportunity in solving hyperlocal challenges is huge, and mapping is just one of them. We at Lightspeed are excited by the prospect of partnering with this team as they build a range of turnkey enterprise solutions around Maps, Facial AI and NLP to address the needs of the next billion consumers both in developing and developed markets.”
Nextbillion.ai has onboarded Hemant Mohapatra, partner at Lightspeed and Navroz Udwadia, co-founder and partner of Falcon Edge Capital to the Board of Directors. It is also supported by a group of global angel investors including Nishant Rao, ex-COO of Freshworks, Prashant Malik, Founder of Cassandra, Anand Chandrasekeran, and Ashwini Asokan, Founders of Mad Street Den.
Navroz Udwadia, Co-Founder and Partner, Falcon Edge Capital said, “Nextbillion.ai team brings world-class expertise in creating enterprise mapping solutions, at scale. We are confident they will build customisable, scalable and effective hyperlocal mapping solutions tailored towards the needs of emerging markets across the world, leveraging artificial intelligence and significant domain expertise.”
Nextbillion.ai aims to get AI to work for solving the needs of the next billion markets. It said that as more and more global companies set their sights on the next billion markets as their next growth engines they will need partners who can help them scale operations with hyperlocal, cost-effective, and customised solutions. It has already partnered with global brands representing various verticals like social media, ride-hailing, food delivery, freight, and logistics across the US, India, Southeast Asia, and China. It said that Nextbillionmaps, the first product of Nextbillionai is an AI-first map Saas Platform that provides enterprises with a range of API’s like routing, navigation, direction, and distance matrix.
Ajay Bulusu, co-founder, said, “Emerging markets across the world are far more complex, with different languages, cultures, hyperlocal nuances and densely populated cities, than the developed markets. We see opportunity in these complexities. With our first product nextbillionmaps, we are building intuitive and intelligent location AI-platform using open-source data combined with proprietary client data, that makes logistics, transport, ride-hailing, delivery, e-commerce solutions accessible to the next billion users effectively, efficiently and affordably. We quickly intend to expand into multiple verticals delivering world-class AI-powered solutions to our customers.”