With this latest round of funding the company plans to expand its market share in building and managing decentralized geospatial technology stacks for enterprises. The company claims to have seen four times year-on-year growth in revenue and 10 times growth in customer base. Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesThe Singapore-based company raised close to $7 million as a part of its Series A funding in June 2020 from Lightspeed and Falcon Edge Capital. The startup then raised $6.25 million as a part of its extended Series A funding round from Microsoft’s venture fund, M12 in May 2021, taking the total funding since inception in 2020 to $34 million. Apart from the existing customers, the company has also partnered with enterprises in the ride-hailing, food delivery, big tech and logistics industries. The company competes in parts with Google Maps and Mapbox.“NextBillion.ai’s decentralized mapping platform provides enterprises with the blocks to build, scale and manage their mapping infrastructure, giving rise to customized solutions that solve multiple use cases,” said Ashish Dave, CEO at Mirae Asset Venture Investments.