Microsoft backs $37m round of US-, Malaysia-based motion graphics firm

LottieFiles, an animation workflow platform, has raised US$37 million in a series B funding round led by Square Peg Capital. Investors including 500 Global and Microsoft’s venture fund, M12, joined the round.

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

LottieFiles is a motion graphics platform that allows animators to streamline their work, offering over 50,000 free and premium animations. It also plans to launch a workflow and collaboration solution later this year, according to a statement.

Additionally, LottieFiles will use the funding to further its product roadmap and expand its operations.

LottieFiles was founded in 2019 by Kshitij Minglani (CEO) and Nattu Adnan (chief technology officer). Since then, the company has onboarded users from over 135,000 companies globally, including animation designers and motion designers for Google, TikTok, Disney, Uber, Airbnb, and Netflix.

LottieFiles is based in the US, with offices in Seoul and Kuala Lumpur. In January 2021, the company raised US$9 million in a round led by M12. LottieFiles then followed up in February with its acquisition of Indian design asset marketplace Iconscout for an undisclosed sum.

See Also: Are Malaysia’s startup efforts finally paying off?

Other investors in its latest round include:

• XYZ Venture Capital
• GreatPoint Ventures