About Locofy
Locofy is a company based in Singapore (Singapore) founded in 2021 by Sohaib Muhammad and Honey Mittal.. Locofy has raised $7.25 million across 2 funding rounds from investors including Dropbox, Accel and LottieFiles. Locofy operates in a competitive market with competitors including Uizard, Figr, Anima, thesys and Kombai, among others.
- Headquarter Singapore, Singapore
- Founders Sohaib Muhammad, Honey Mittal
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Locofy Pte. Ltd.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$7.25 M (USD)
in 2 rounds
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Latest Funding Round
$4.25 M (USD), Seed
May 15, 2023
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Investors
Dropbox
& 9 more
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Employee Count
Employee Count
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Funding Insights of Locofy
Locofy has successfully raised a total of $7.25M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $4.25 million completed in May 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $4.2M
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First Round
First Round
(22 Mar 2022)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2023 | Amount | Seed - Locofy | Valuation | Northstar Ventures | |
| Mar, 2022 | Amount | Seed - Locofy | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Locofy
Locofy has secured backing from 10 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Dropbox, Accel and LottieFiles. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm investing in Southeast Asian startups
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Founded Year | Domain | Location | |
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Early-stage investments are made in UK companies across diverse sectors.
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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Locofy
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Locofy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Locofy Comparisons
Competitors of Locofy
Locofy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Uizard, Figr, Anima, thesys and Kombai, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Designs are transformed into code via cloud-based neural networks.
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| domain | founded_year | HQ Location |
AI-powered UI design and workflow tools are provided.
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| domain | founded_year | HQ Location |
Automated UI/UX prototyping is enabled through a cloud-based platform.
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| domain | founded_year | HQ Location |
Design suite for GenAI software is provided for conversational experiences.
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| domain | founded_year | HQ Location |
AI is leveraged to convert UI designs into frontend code.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Locofy
Frequently Asked Questions about Locofy
When was Locofy founded?
Locofy was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Locofy located?
Locofy is headquartered in Singapore, Singapore.
Who is the current CEO of Locofy?
Honey Mittal is the current CEO of Locofy. They have also founded this company.
Is Locofy a funded company?
Locofy is a funded company, having raised a total of $7.25M across 2 funding rounds to date. The company's 1st funding round was a Seed of $3M, raised on Mar 22, 2022.
What does Locofy do?
Founded in 2021 and based in Singapore, Locofy operates in the software development sector, focusing on low-code tools for web and mobile applications. Designs are transformed into front-end code, with production-ready outputs generated for deployment. Pre-built drag-and-drop components are provided, alongside support for integrating data from spreadsheets, tables, and databases. Prototypes are enabled to run directly on generated code without manual programming.
Who are Locofy's investors?
Locofy has 10 investors. Key investors include Dropbox, Accel, LottieFiles, BoldCap, and Zopim.
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