Draft:NextBillion

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Draft:NextBillion

NextBillion.ai is a Singapore-based geospatial technology company that develops mapping, routing, navigation, and location intelligence software. Founded in 2020 by Ajay Bulusu, Gaurav Bubna, and Shaolin Zheng, former executives and engineers at Grab,[1] the company provides application programming interfaces (APIs) and software tools for customized mapping and logistics infrastructure.[2][3]

History

NextBillion was founded in 2020 by Ajay Bulusu, Gaurav Bubna, and Shaolin Zheng. Before founding the company, the founders worked on mapping and location-based technologies at Grab,[4] a Southeast Asian ride-hailing and delivery platform.[5][6] The company was headquartered in Singapore and had offices in Bengaluru, Hyderabad, and Beijing.[7]

In September 2020, TechCrunch reported that NextBillion was among the Southeast Asian startups backed by Lightspeed Venture Partners, describing it as a Singapore-based enterprise software developer.[8]

Acquisition by Velocitor Solutions (2025)

Between September and October 2025, US-based technology firm Velocitor Solutions acquired NextBillion in an all-cash transaction, full exit for early investors, including Lightspeed Venture Partners, M12, and Alpha Wave Global.[9] Following the acquisition, the firms combined Velocitor's hardware with NextBillion's API-first routing engines while maintaining independent branding.[10]

Technology

NextBillion develops enterprise geospatial platforms designed to process custom spatial constraints and proprietary datasets, such as vehicle size and weight restrictions, localized turn limitations, and private access gate information. The platform integrates with open-source mapping data sources, including OpenStreetMap (OSM), as well as third-party traffic data providers. Its product offerings include a distance matrix application programming interface (API), route optimization engines, and asset tracking software.[1][11]

Funding

Date Round Amount raised Investors Reference
June 2020 Series A US$7 million Lightspeed Venture Partners; Falcon Edge Capital [12]
May 2021 Series A extension US$6.25 million M12 [13]
May 2022 Series B US$21 million Mirae Asset Capital; Lightspeed Venture Partners; M12; Alpha Wave Global [14]

References

  1. ^ a b Sil, Debarghya (2020-08-31). "This Hyperlocal AI Startup Is Providing Advanced Mapping Solutions For Enterprises To Target Emerging Markets". Entrepreneur India. Retrieved 2026-08-18.
  2. ^ Schenker, Jennifer L. (2022-10-07). "Startup Of The Week: NextBillion.ai". The Innovator. Retrieved 2026-08-18.
  3. ^ Yordan, Jofie (21 July 2023). "NextBillion.ai posts 28% revenue growth in 2022, losses widen to $7.1m (update)". www.techinasia.com. Retrieved 2026-08-18.
  4. ^ Sarah Abigail, Theodora (2 June 2021). "NextBillion.ai looks to dethrone Google Maps in the enterprise space". www.techinasia.com. Retrieved 2026-08-18.
  5. ^ Mathur, Nandita (2020-06-25). "Nextbillion.ai raises $7 million, led by Lightspeed India Partners and Falcon Edge Capital". mint. Retrieved 2026-08-11.
  6. ^ Sannith, Jude (2020-09-03). "This Singapore start-up's hyper-local mapping service is tailor made for mobility businesses - CNBC TV18". CNBCTV18. Retrieved 2026-08-11.
  7. ^ Biswas, Debolina (June 7, 2021). "AIM — India's Leading AI & Data Science Media Platform". analyticsindiamag.com. Retrieved 2026-08-18.
  8. ^ Shu, Catherine (2020-09-17). "Lightspeed announces the launch of its Southeast Asia operations". TechCrunch. Retrieved 2026-08-18.
  9. ^ Mathew, Pramod (29 September 2025). DealStreetAsia https://www.dealstreetasia.com/stories/velocitor-solutions-buys-nextbillion-ai-457885. Retrieved 2026-08-18. {{cite web}}: Missing or empty |title= (help)
  10. ^ Mayer, Marina (2025-12-19). "Velocitor Solutions Acquires NextBillion.ai". Supply & Demand Chain Executive. Retrieved 2026-08-18.
  11. ^ Wolfe, Jeremy (2025-06-25). "Improving routes with the data deluge". FleetOwner. Retrieved 2026-08-18.
  12. ^ Jye, Ng Ren (2020-06-29). "Singapore AI startup bags US$7m in Series A round led by two US venture capitalists". The Business Times. Retrieved 2026-08-18.
  13. ^ "NextBillion secures $6.25m from Microsoft's M12 - Tech in Asia". www.techinasia.com. Retrieved 2026-08-18.
  14. ^ Cher, Benjamin (2022-06-14). "Early-stage startups pique investor interest amid funding slowdown". The Business Times. Retrieved 2026-08-18.


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