Malaysian motion graphics firm LottieFiles acquires India-based Iconscout

Malaysia- and US-based motion graphics platform LottieFiles announced it has acquired Indian design asset marketplace Iconscout for an undisclosed sum.

LottieFiles CEO Kshitij Minglani (left) and chief technical officer Nattu Adnan / Photo credit: LottieFiles

Iconscout is comprised of a library of curated assets for designers, developers, and marketers. The company also has integrations and plugins for design tools such as Adobe XD, Figma, Sketch, and Microsoft Office, among others.

LottieFiles will acquire over 2.2 million of Iconscout’s assets ranging from scalable vector graphics and vector icons to illustrations and 3D graphics as part of the transaction, according to a statement. Dalpat Prajapati, co-founder of Iconscout, said the deal will help the company have a more global audience and a “much bigger playfield.”

Post the acquisition, Iconscout will continue to operate as an independent platform for design assets.

The development comes after LottieFiles raised US$9 million in a series A financing round led by Microsoft’s venture fund M12.

LottieFiles, which also counts Adobe as its investor, claims to have recorded a 300% year-on-year growth. The company also said it has over 1 million registered users from more than 65,000 companies globally, including Google, TikTok, Disney, Uber, Airbnb, and Netflix.