Amsterdam and Romania-based startup Magic Lane has successfully raised €3 million to advance its innovative mapping and location platform. This investment round was led by the Dutch venture capital firm No Such Ventures, supporting Magic Lane’s mission to reshape the location industry.
Magic Lane, initially pioneers in the mapping and navigation sector with their early creation of Route66, continues to innovate with its software development kits (SDKs) that enable businesses to integrate maps and navigation features into their applications and vehicles. This technology is particularly tailored to meet the evolving demands of the IoT and micro-mobility markets.
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Strategic Investment for Expansion
The new funding will be used to expand the commercial operations, strengthen marketing efforts, and deepen partnerships. These initiatives aim to broaden Magic Lane’s presence in new markets and enhance its offerings in safety, accessibility, and efficiency within urban environments.
Commitment to Urban Mobility and Connectivity
Raymond Alves, CEO of Magic Lane, emphasized the transformative potential of their solutions, stating, “With this investment, we can truly accelerate our efforts to transform the location industry. Our solutions address the evolving needs of the IoT and micro-mobility markets, making urban mobility smarter, lighter, and faster than current standards.”
Vision for Future Growth
Magic Lane is poised to meet the increased demand for connected mobility solutions, offering a platform that works with minimal hardware, ensures user privacy, and can function without an internet connection—ideal for electric bikes, scooters, and other micro-mobility devices.
Thijn van Helvoirt of No Such Ventures commented on the investment, highlighting the significance of Magic Lane’s innovative approach, “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.”
With this strategic investment, the startup is set to make significant advances in the mapping and location industry, driving new standards for how we navigate and interact with our environments.
