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Magic Lane raises €3 million from No Such Ventures

  • Netherlands & Romania-based location intelligence platform Magic Lane raises €3 million to accelerate their efforts to transform the location industry

  • Dutch VC No Such Ventures led the round to help Magic Lane on their mission to democratize navigation across all forms of EV and micro-mobility

Amsterdam, Netherlands, and Brasov, Romania - May 13, 2024 - The revamped mapping and location platform, Magic Lane that enables navigation for micro-mobility, specialized vehicles, apps, and platforms, has successfully concluded an investment round of €3 million. "With this investment, we can truly accelerate our efforts to transform the location industry," explains Raymond Alves of Magic Lane. "With our solutions, we address the evolving needs of the IoT and micro-mobility markets."

The founders of Magic Lane were instrumental in pioneering the mapping, location, and navigation industry with the global rollout of Route66, the first-ever route planner, and are determined to once again transform the location intelligence industry.

Magic Lane is rapidly gaining market share with its Software Development Kits (SDKs), allowing companies to easily embed mapping, location, and navigation functionalities themselves into vehicles, apps, and online platforms in virtually any common programming language.

Purpose of the Investment

Since its launch in November 2022, Magic Lane has successfully expanded its presence in both Europe and Asia, attracting several prominent clients and partners. According to Raymond Alves, CEO of Magic Lane: "The investment will be used to expand our commercial operations, strengthen marketing initiatives, and deepen partnerships that further develop Magic Lane's presence in new markets. Moreover, this investment enables us to enhance safety, accessibility, and efficiency in urban environments, starting in the micro-mobility market." "For IoT and specifically 'connected mobility,' to reach its full potential, smarter, lighter, and faster mapping and navigation solutions are needed than that are currently the norm. We are pleased to help Magic Lane in meeting that demand with this investment," adds Thijn van Helvoirt of No Such Ventures.

From Route Planner to Technological One-Stop-Shop

Magic Lane's solutions are known for functioning on minimal hardware, ensuring that the location data of its end-users are not traced and that navigation and routing also work offline. This makes the technology ideal for electric bikes, scooters, and other embedded applications, as well as providing solutions for companies with large fleets of vehicles - from logistics carriers to fleet management, ride-hailing, and sharing platforms. Magic Lane is now starting to successfully compete with major players such as Google, TomTom, Here Technologies, and Mapbox.

Micro Mobility Europe

On June 5 and 6, Magic Lane will be present at Micro Mobility Europe in Amsterdam. Here, they will demonstrate innovative solutions and present products showcasing that they are the "one-stop-shop" in the micro-mobility market. Additionally, multiple collaborations will be announced during the event.

About No Such Ventures

No Such Ventures is a rapidly growing pioneer in the Venture Capital landscape that offers flexible investments for investors and founders. The investor combines the added value of (angel) investors with the professionalism of a VC through its deal-by-deal model. No Such Ventures invests two to eight million euros in ambitious growth companies in various sectors and is supported by a committed and rapidly growing network of investors, entrepreneurs, and industry experts. For more information:


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