About utu
utu is a company based in Singapore (Singapore) founded in 2016 by Jeremy Tan, Ameer Jumabhoy, and Asad Jumabhoy.. utu has raised $35 million across 1 funding round from investors including SC Ventures. The company has 13 employees as of April 08, 2024. utu has completed 1 acquisition, including CardsPal. utu offers products and services including utu Vouchers and AI-Powered Web App. utu operates in a competitive market with competitors including Bink, Larky, Swipii, Wrapp and myGini, among others.
- Headquarter Singapore, Singapore
- Employees 13 as on 08 Apr, 2024
- Founders Jeremy Tan, Ameer Jumabhoy, Asad Jumabhoy
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Sectors
Technology
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Phone
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Website
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Social
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- Legal Name Utu Techsolutions Private Limited
- Date of Incorporation 05 Nov, 2020
- Jurisdiction Pune, Maharashtra, India
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$35 M (USD)
in 1 rounds
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Latest Funding Round
$35 M (USD), Series B
Jun 27, 2023
- Investors
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Employee Count
13
as on Apr 08, 2024
- Investments & Acquisitions
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Products & Services of utu
utu offers a comprehensive portfolio of products and services, including utu Vouchers and AI-Powered Web App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Converts tax refunds into bonus-enhanced vouchers for tourist shopping.
App for generating and managing tax refund vouchers instantly.
Unlock access to complete
Funding Insights of utu
utu has successfully raised a total of $35M through 1 strategic funding round. The most recent funding activity was a Series B round of $35 million completed in June 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 1
- Last Round Series B — $35.0M
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First Round
First Round
(27 Jun 2023)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jun, 2023 | Amount | Series B - utu | Valuation | SC Ventures |
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| 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 utu
utu has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include SC Ventures. 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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VC fund backed by Standard Chartered
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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 utu
utu has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include CardsPal. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Credit card discovery and comparison platform is offered to consumers.
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2019 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - utu
| 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 |
Utu Comparisons
Competitors of utu
utu 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 Bink, Larky, Swipii, Wrapp and myGini, 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 |
Delivers mobile-based customer loyalty program management solutions for businesses.
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| domain | founded_year | HQ Location |
Coalition loyalty software is provided for financial institutions by Larky.
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| domain | founded_year | HQ Location |
Mobile-based loyalty programs are provided for customers and businesses.
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| domain | founded_year | HQ Location |
Card-linked coalition loyalty program is delivered via mobile app.
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| domain | founded_year | HQ Location |
Reward-based payment and engagement solutions are provided for businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Utu
Frequently Asked Questions about utu
When was utu founded?
utu was founded in 2016 and raised its 1st funding round 7 years after it was founded.
Where is utu located?
utu is headquartered in Singapore, Singapore.
Who is the current CEO of utu?
Asad Jumabhoy is the current CEO of utu. They have also founded this company.
Is utu a funded company?
utu is a funded company, having raised a total of $35M across 1 funding round to date. The company's 1st funding round was a Series B of $35M, raised on Jun 27, 2023.
How many employees does utu have?
As of Apr 08, 2024, the latest employee count at utu is 13.
What does utu do?
UTU was founded in 2016 in Singapore as a loyalty and rewards platform in the fintech sector. A mobile app is provided for users to link payment cards and earn points from transactions at over 7,400 global partner merchants, including ZARA and Tommy Hilfiger. Points are aggregated, shared, and redeemed across borders, with initial operations planned for Thailand. The company is backed by The Scotts Group and Korvac Holdings.
What products or services does utu offer?
utu offers utu Vouchers and AI-Powered Web App.
How many acquisitions has utu made?
utu has made 1 acquisition, including CardsPal.
Who are utu's investors?
utu has 1 investor. Key investors include SC Ventures.
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