LottieFiles raises $9m in Series A round led by Microsoft fund M12

LottieFiles CEO Kshitij Minglani (left) and CTO Nattu Adnan.

Malaysia and US-based animation workflow platform LottieFiles on Wednesday announced a $9-million Series A investment led by Microsoft’s venture fund, M12, with participation from existing investor 500 Startups.

Other investors in the company include US software company Adobe, according to a statement.

“We help designers and developers create interactive motion graphics that make their products stand out, without the traditional steep learning curve,” said LottieFiles co-founder and CEO Kshitij Minglani.

The new capital will be used to further the product roadmap, expand infrastructure to support its 300% year-on-year growth, and increase its global user base, the company said. 

LottieFiles.com claims to have surpassed one million users from over 65,000+ companies globally, including Google, TikTok, Disney, Uber, Airbnb, and Netflix.

The majority of today’s most-downloaded apps use the Lottie format for their motion graphics due to its lightweight file size, which is over 600% smaller than traditional GIF files.

“Their platform not only disrupts the existing design industry but also empowers an entirely new set of users by unlocking many new opportunities to use motion,” said M12 partner Abhi Kumar.

LottieFiles raised an undisclosed sum from 500 Startups and Adobe Fund for Design in April last year.

Microsoft’s venture fund invests in enterprise software companies primarily in the Series A through C funding stages with a focus on applied AI, business applications, infrastructure, security, and vanguard technologies. M12 has offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru.

500 Startups has invested in over 2,450 companies across 78 countries. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab and Bukalapak.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.