Nextbillion.ai raises $7M in Series A from Lightspeed Venture, Falcon Edge

Singapore based AI startup nextbillion.ai has received a funding of $7 million in the Series A round of funding from Lightspeed Venture Partners and Falcon Edge Capital.

 

Nextbillion.ai is an AI startup that works on AI-powered hyperlocal solutions, with mapping as its core offering. 

 

It was founded by Ajay Bulusu, Gaurav Bubna, and Shaolin Zheng earlier this year in the month of January 2020. 

 

According to the co-founder Ajay Bulusu

 

“Mapping is our first use case, but as we progress in our journey, we want to get into more verticals with an AI-first approach. Natural language processing, facial recognition, and cybersecurity will be some of these areas”

 

After this investment, Hemant Mohapatra from Lightspeed and Navroz Udwadia CEO Falcon Edge Capital joins as the board of directors.

 

According to the Ajay Bulusu from Nextbillion.ai

 

“We have a lot of hyperlocal nuances. For instance, no company gives you a specific API for route optimization of trucks, or autos, or two-wheelers. But the route a truck takes to deliver a package versus a bike might be significantly different”

 

Statement from Hemant Mohapatra from Lightspeed on the investment

“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”. 

– Authored by Arvind Singh

  Content Developer, StartupMonk

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