Amsterdam-based navigation and mapping platform Magic Lane has raised €3 million from No Such Ventures. The startup plans to use the investment to expand its operations, support marketing campaigns, and enter new markets.
- Founded in 2022 by van Dijk, Johan Lanen, and Raymond Alves, Magic Lane, previously known as Route66, develops a mapping, location, and navigation platform that provides software solutions for various programming languages. This platform helps companies incorporate maps, location, and navigation features into vehicles, apps, and online platforms, allowing them to customize services with offline capabilities.
- With offices in the Netherlands and Romania, Magic Lane employs a team of 46. Additionally, the startup serves 1,000 active users and processes 50,000 requests monthly.
- The funding was backed by No Such Ventures, an Amsterdam-based venture capital firm that invests between €2 million and €8 million in revenue-generating startups.
“Magic Lane provides ready-made and fully customizable maps, navigation, and driver-assistance software tailored for businesses to integrate into apps, online platforms, devices, and vehicles. With their global approach and sales extending from the Netherlands to India, we are excited about this one,” No Such Venture team commented on Linkedin.
- The fresh capital will help Magic Lane accelerate its business operations, strengthen advertising efforts, and expand into new markets. Furthermore, it aims to improve efficiency, safety, and accessibility in urban settings.
