Maldivian techs at LottieFiles secure USD 9 million in Microsoft-Adobe investments
LottieFiles won a Series A investment from Microsoft's M12 arm worth USD 9 million
CEO Kshitij Minglani & CTO Nattu Adnan for LottieFiles; 14 Maldivians contribute to the company as partners and developers
LottieFiles, an animation-and-design platform co-founded by Maldivian developer Nattu Adnan, has won USD 9 million in Series A investment from Microsoft's venture fund M12, with Adobe and 500 Startups as investment companions.
LottieFiles was co-founded by Maldivian tech developer Nattu Adnan and Kshitij Minglani in 2018, and has experienced resounding organic growth. As of now, the minimalist design-to-code platform has assimilated over one million users worldwide in association with over 65,000 companies having adopted it as their go-to Lottie destination, including big names like Google, TikTok, Disney, Uber, AirBnB and Netflix.
LottieFiles boast revolutionary cross-platform capabilities that allow designers and developers to skip the hassle of having to individually code motion graphics, and can be edited after shipping, which further contributes to the innovation's riotous popularity in the tech industry.
President Ibrahim Mohamed Solih congratulated LottieFiles for the recent achievements in their start-up venture, expressing his pride that developers and innovators from the Maldives had contributed to the company's success in the highly competitive sphere of global tech development.
Vice-President Faisal Naseem and Minister of Finance Fayyaz Ismail also congratulated LottieFiles for their historic achievement. Finance Minister Fayyaz pledged to redouble efforts to establish and ecosystem in the country where such innovative youth-led start-ups could thrive. Developers from Lottie acknowledged the praise, but also highlighted the many challenges being faced by young entrepreneurs in the Maldives due to the lack of availability of high-speed and affordable internet, in addition to access to international payment systems.
Abhi Kumar, Partner at M12 that leads the investment for LottieFiles, describes the company as one with an incredible and highly experienced leadership, and has expressed the Microsoft team's excitement in supporting LottieFiles continued growth alongside Adobe and 500 Startups.
Based in San Francisco, California and Kuala Lampur, Malaysia, LottieFiles has 14 Maldivians contributing to the team as partners and developers.
