Amsterdam and Romania-based Magic Lane secures €3M for its mapping and location platform

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Amsterdam and Romania-based Magic Lane, a revamped mapping and location platform, has secured €3M in fresh funding led by Dutch VC firm No Such Ventures, to accelerate its efforts to transform the location industry.

Raymond Alves, CEO of Magic Lane, says, “With this investment, we can truly accelerate our efforts to transform the location industry. With our solutions, we address the evolving needs of the IoT and micro-mobility markets.”

Capital utilisation

Magic Lane’s founders were key in starting the mapping and navigation industry with Route66, the first route planner. Now, they aim to change the location industry again. Magic Lane’s SDKs help companies add maps and navigation to their apps and vehicles.

Since its launch in November 2022, Magic Lane claims to have grown in Europe and Asia, attracting “prominent” clients and partners. 

“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,” says Raymond Alves, CEO of Magic Lane.

“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.

Maps, location & navigation services platform for developers

Founded in 2022, Magic Lane aims to transform maps, location, and navigation services. 

The company’s technology works with minimal hardware and keeps users’ location data private. It can even navigate without needing an internet connection, which the company describes as “ideal” for electric bikes, scooters, and other devices.

The technology also helps big companies manage their vehicle fleets, like delivery companies or ride-sharing apps. Magic Lane is now competing well with big names like Google, TomTom, Here Technologies, and Mapbox.

The company’s platform deploys over 2,000 open data sources – ranging from maps, elevation and satellite data, weather, points-of-interest, Wikipedia, public transport and address data.

Brief about No Such Ventures

No Such Ventures offers flexible investments for both investors and founders. Through its deal-by-deal approach, it mixes the benefits of angel investors with the expertise of a VC.

The firm invests between €2M to €8M in ambitious companies across different industries. It claims to have a strong network of investors, entrepreneurs, and industry experts supporting them.

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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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