About Nuo
Nuo is a Financial Services company based in Singapore (Singapore) founded in 2018 by Varun Deshpande and Ratnesh Ray. It operates as a decentralized P2P crypto loans and margin trading are facilitated. It operates on a Blockchain-as-a-Service and Two-Sided Marketplace model. Nuo has raised $3.25 million across 2 funding rounds from investors including Polychain, DRAGONFLY and Astarc Ventures. Its Indian entity Nuofox Labs Private Limited reported revenue of ₹20.03 Cr. Nuo offers products and services including DeFi on Ethereum, Bitcoin Exchange, and Nuo Explorer. Its focus areas include Financials, Cryptocurrency and Decentralized Finance. Its competitors include Consensys, Luno, Uphold, Coins.ph and BlockFi and 5 more; 8 of its 10 listed competitors have raised funding.
Company details
A platform for managing digital assets like Bitcoin and Ethereum is operated. Services include lending, borrowing, margin trading, and swapping of ETH and ERC20 tokens through open-source smart contracts. Focus is placed on decentralized finance across Asia, with Bitcoin purchasing options in India. Partnerships with top exchanges are maintained to aggregate liquidity and ensure competitive pricing for digital assets.
- Headquarters Singapore, Singapore
- Founders Varun Deshpande, Ratnesh Ray
- SectorsFinancial Services
- Email••••••••
- Website getnuo.com
- Social LinkedIn X Facebook
- Legal Name Nuo Capital Pte. Ltd.
- Date of Incorporation 03 Apr, 2017
- Annual Revenue₹20.03 Cr
FY 2024 · +26% YoY
- Net Profit₹1.86 Cr
FY 2024 · 9% margin
- EBITDA₹2.83 Cr
FY 2024 · 14% margin
- Total Equity Funding$3.25M (USD)
in 2 rounds
- Latest Funding Round$3M (USD), Seed
Oct 2019
- InvestorsPolychain
& 9 more
Associated legal entities of Nuo
Nuo operates through Nuofox Labs Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Nuofox Labs Private Limited CIN U74999KA2017PTC180136 | Active | 03 Apr 2017 | Bangalore, Karnataka | ₹20.0 Cr | 70 | 3 | View details |
Products & Services of Nuo
Nuo offers a comprehensive portfolio of products and services, including DeFi on Ethereum, Bitcoin Exchange, and Nuo Explorer.
Platform for lending and borrowing Ethereum assets provided.
Service for buying Bitcoin with fiat in Asia.
Tool for tracking transactions on Nuo Network offered.
Funding Insights of Nuo
Nuo has successfully raised a total of $3.25M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $3 million completed in October 2019. 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 $3.25M
- Total Rounds 2
- Last Round Seed — $3M
- First Round $245,246
(Mar 2018)
- Investors Count 10
All 2 funding rounds of Nuo with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2019 | $3M | Seed | – | Polychain, Surge | |
| Mar 2018 | $245,246 | Angel Round | – | Amrish Rau |
10 investors in total: 6 institutional and 4 angel.
Investors in Nuo
Nuo has secured backing from 10 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Polychain, DRAGONFLY and Astarc Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital and equity principal services are provided by Dragonfly. | 2018 | dragonfly.xyz | Oakland, United States | |
Startup acceleration and venture funding are provided by Consensys-backed entity. | – | labs.consensys.net | San Francisco, United States | |
Seed-stage tech-focused VC firm investing in geographies such as Asia | 2015 | astarcventures.com | Mumbai, India | |
Angel network focused on India, Singapore, and U.S based companies | – | sgan.sg | Singapore, Singapore | |
Acceleration is provided to startups across multiple sectors by Surge. | – | surgeahead.com | - | |
Investments in cryptocurrency and blockchain assets are managed by Polychain. | 2016 | polychain.capital | San Francisco, United States | |
AR Amrish Rau | CEO of Pine Labs, fintech leader, active angel investor | – | unknown_280b25e8845f498ab | - |
JG Jitendra Gupta | Founder of Jupiter, ex-Citrus Pay, prominent fintech angel investor | – | unknown_fdc3b059ced64ae09 | - |
NS Nitin Sharma | General Partner at Antler India, active angel investor in early-stage startups | – | unknown_8273fdcf19ef4dcb8 | - |
BS Balaji Srinivasan | - | – | unknown_42fe5ac5516b4ca08 | - |
Investor details for Nuo
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Nuofox Labs Private Limited (Nuo)
Nuofox Labs Private Limited is the primary company behind Nuo. The board of Nuofox Labs Private Limited currently have 3 directors; the longest-serving is Varun Ravindra Deshpande, appointed in 2017.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Varun Ravindra Deshpande DIN 07308254 | Director | 03 Apr 2017 | 9 yrs 6 mo | Nuofox Labs Private Limited |
| Ratnesh Kumar Ray DIN 07321310 | Director | 03 Apr 2017 | 9 yrs 6 mo | Nuofox Labs Private Limited |
| Siddharth Verma DIN 07321311 | Director | 03 Apr 2017 | 9 yrs 6 mo | Nuofox Labs Private Limited |
People of Nuo
2 people are tracked at Nuo (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Nuo
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Nuo
Figures of Nuofox Labs Private Limited, the primary company behind Nuo, for FY 2024. Revenue was ₹20.03 Cr (+26% year on year). Net profit was ₹1.86 Cr (9% margin). EBITDA was ₹2.83 Cr (14% margin). Revenue has grown at a compounded annual rate of +62% over three years and +165% over five years.
- ₹20.03 CrRevenue · FY 2024 · +26% YoY
- ₹1.86 CrNet profit · 9% margin
- ₹2.83 CrEBITDA · 14% margin
- ₹2 LakhPaid-up capital
- 70Employees (provident fund records)
- +62%Revenue CAGR, 3 years
- +165%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Nuofox Labs Private Limited are on its company page.
Detailed financial statements for Nuo
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Nuo
3 dated milestones of Nuo across 1 years, from founding to its latest funding, stage changes and deals.
- Founded Nuo is founded.
- Funding First funding round of $245K.
- Funding Latest funding round, Seed, of $3.0M.
Competitors of Nuo
Nuo has 10 listed competitors in our database, 8 of them funded. They include Consensys, Luno, Uphold, Coins.ph and BlockFi, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| consensys.io | 2014 | Fort Worth, United States | $725M | 900 | Developer of blockchain and web3 software platform | |
| luno.com | 2013 | London, United Kingdom | $13M | 127 | Mobile app for storing and trading cryptocurrencies is utilized. | |
| uphold.com | 2013 | London, United Kingdom | $73.36M | 14 | App-based wallet and exchange platform for cross-border money transfers | |
| coins.ph | 2014 | Pasig, Philippines | $40M | – | Digital wallet for Bitcoin assets | |
| blockfi.com | 2017 | Jersey, United States | $465.65M | – | Crypto trading, loans, interest accounts, and wallets are offered online. | |
| crypto.com | 2016 | Singapore | – | – | App-based trading and deposit solutions for cryptocurrency are provided. | |
| bitgo.com | 2013 | Palo Alto, United States | $170.5M | 166 | Crypto-based custody, trading, and lending services are provided to institutions. | |
| fireblocks.com | 2018 | New York, United States | $1.04B | – | Provider of an online platform for crypto custody, payments, tokenization, and wallet-as-a-service | |
| matrixport.com | 2019 | Singapore | $100M | 290 | App-based platform offering crypto investment products and financial services solutions | |
| galaxy.com | 2018 | New York, United States | – | 390 | Galaxy is recognized as a leader in digital assets and data center infrastructure. |
Detailed competitors of Nuo
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Nuo
The website of Nuo (getnuo.com) receives about 1.2K visits a month.
- Monthly visits1.2K
Top companies in Cryptocurrencies
10 companies that operate in the same segment as Nuo (Cryptocurrencies), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cross-border cryptocurrency payments for businesses are enabled through APIs. | 2013 | Boston, Massachusetts, United States | USD 1.51 B | USD 2.75 B | 1,533 | |
Online exchange platform for cryptocurrency | 2017 | Ta Xbiex, Malta | USD 2.02 B | – | 14,747 | |
App-based platform for exchange and trading solutions for cryptocurrency | 2011 | London, England, United Kingdom | USD 700 M | – | 1,212 | |
Terraform Labs is engaged in blockchain technology development. | 2018 | Singapore, Singapore | USD 57 M | – | – | |
Ledger is recognized for providing secure cryptocurrency hardware wallets. | 2014 | Paris, Ile de France, France | USD 575.4 M | – | 802 | |
App-based wallet and exchange platform for cross-border money transfers | 2013 | London, England, United Kingdom | USD 73.36 M | – | – | |
Cryptocurrency trading, storage, and exchange services are offered online. | 2012 | San Francisco, California, United States | USD 546.62 M | USD 7.18 B | 7,025 | |
Cryptocurrencies are traded and exchanged through an online platform. | 2014 | Mexico City, Mexico City, Mexico | USD 331.35 M | – | 884 | |
Decentralized exchange platform for cryptocurrency trading is operated. | 2018 | New York, New York, United States | USD 176 M | – | 217 | |
Mobile app for storing and trading cryptocurrencies is utilized. | 2013 | London, England, United Kingdom | USD 13 M | – | – |
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Related news about Nuo
Complete news archive for Nuo
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Frequently Asked Questions about Nuo
Nuo was founded in 2018.
Nuo is headquartered in Singapore, Singapore.
Nuo is a funded company, having raised a total of $3.25M across 2 funding rounds to date. The company's 1st funding round was a Angel Round of $245.25K, raised on Mar 2018.
The primary company behind Nuo, Nuofox Labs Private Limited, reported revenue of ₹20.03 Cr for FY 2024, up 26% year on year.
A platform for managing digital assets like Bitcoin and Ethereum is operated. Services include lending, borrowing, margin trading, and swapping of ETH and ERC20 tokens through open-source smart contracts. Focus is placed on decentralized finance across Asia, with Bitcoin purchasing options in India. Partnerships with top exchanges are maintained to aggregate liquidity and ensure competitive pricing for digital assets.
Nuo offers DeFi on Ethereum, Bitcoin Exchange, and Nuo Explorer.
Nuo has 10 investors. Key investors include Polychain, DRAGONFLY, Astarc Ventures, Consensys Labs, and Singapore Angel Network.
Nuo operates through Nuofox Labs Private Limited.
The legal entities of Nuo currently have 3 directors, including Varun Ravindra Deshpande, Ratnesh Kumar Ray, Siddharth Verma.