In a market which is dotted with few but big competitors, location technology startup NextBillion.ai is betting on innovation to differentiate itself from the pack. “In a way, the good thing, bad thing for us is that the industry and most of the incumbents are really, really old. Innovation is a big differentiator for us and we continue to intend to invest very significantly in the coming years just like how we have been doing so far,” says co-founder Gaurav Bubna.
Another area of focus for the firm is augmenting the quality of customer support. “The quality of support and customer friendliness that exists with many companies today is truly atrocious. That’s another area we are very, very conscious…,” says Bubna.
Business seems to be off to a good start. Bubna claims that the firm’s customer base has grown by some four times over the past six months. According to company estimates, revenues have also increased by three to four times during the period.
“The core part of why do we exist and what we are building is the fundamental belief that in the next ten years, location technology will play a huge role in many many ways for both consumers as well as businesses,” says Bubna. With the advent of 5G, deeper adoption of technological capabilities like AR, VR and IoT, new use cases will emerge, widening opportunities. “Over the next five years, the opportunity is really, really large,” says Bubna.