Velocitor Solutions, a US-based provider of enterprise fleet and field service management platforms, has acquired NextBillion.ai.

NextBillion.ai, which develops routing, dispatch, and mapping APIs for logistics and delivery businesses, had previously raised over US$32 million from backers such as Microsoft, Lightspeed Venture Partners, and Alpha Wave Global.

These investors have exited through the acquisition.

The company said its revenue more than doubled for the fiscal year ending December 2024, while losses fell 27%.

Financial terms of the deal were not disclosed.

🔗 Source: NextBillion.ai