Waterloo's Mappedin nets $24.5M to map the indoors with AI and LiDAR

Deal

It has been reported that Waterloo-based Mappedin raised US$24.5 million in growth equity financing led by Edison Partners, CEO Hongwei Liu tells Axios Pro exclusively, bringing the company's total funding to about $35 million. The startup builds and maintains 3D digital maps of indoor spaces—think museums, airports and stadiums—using a blend of LiDAR scans and AI to keep layouts accurate and interactive.

Why it matters

Outside spaces are already a solved problem; indoor navigation is messy and fragmented. Who hasn’t circled a terminal looking for a gate? Mappedin’s pitch is simple: make complex interiors searchable and navigable, and you reduce friction for visitors and operators alike. This plays straight into the digital-twin and location-services trend, where enterprises want real-time, usable maps for operations, accessibility, and new customer experiences.

Outlook

The fresh capital positions Mappedin among a crop of startups chasing indoor mapping’s steady, enterprise-driven opportunity. It’s not flashy consumer tech—but for venue operators, airports and retailers, better indoor maps can mean fewer headaches and more revenue. In short: mapping the last mile of location tech might be less glamorous than the metaverse, but it’s a problem plenty of people would happily pay to have solved.

Sources: axios.com