Nextbillion.ai closes US$7 million series A round

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Veritas Legal and Dentons Rodyk & Davidson advised Nextbillion.ai in its US$7 million series A fundraise from Lightspeed India Partners, Falcon Edge Capital and individual angel investors.

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian advised Lightspeed and Goodwin Procter acted for Falcon Edge.

The deal closed in April and was announced in June. Veritas Legal’s team comprised partner Nandish Vyas and associates Devesh Saboo and Gunsaheb Singh.

Gunderson’s team was led by Singapore-based partner Jonathan Pentzien and included associates David He, Vanessa Ho and Alex Khachaturian.

Nextbillion AI is a Singapore-based startup with operations in India. It builds AI-based mapping solutions to support logistics, ride hailing, delivery and autonomous driving businesses. While Lightspeed invested US$4.2 million for a 15% stake in the company, Falcon Edge picked up a 9% stake for US$2.52 million and individual angel investors invested US$280,000 for a 1% stake.