Northstar, Golden Gate join $4.3m round of SG AI firm

(From left) Locofy co-founders Sohaib Muhammad and Honey Mittal

Only six months after its establishment, Singapore-based Locofy launched a beta of its low-code development tool in January 2022. It has since received over 100,000 sign-ups across 195 countries.

Its tech helps designers automate front-end code directly from their designs and integrate them with existing workflows, leveraging AI to convert designs into coding languages to save time. The firm has raised new capital from investors including Golden Gate Ventures and Northstar Ventures.

Funding details

• Funding amount: $4,250,000
• Investors: Northstar Ventures, Golden Gate Ventures, Accel Partners, January Capital, Arash Ferdowsi, Nattu Adnan
• Stage: Seed

Locofy currently supports Figma and Adobe XD designs, converting them into React, React Native, HTML-CSS, Gatsby, and Next.js code.

In a statement, Golden Gate Ventures said that Locofy is one of several strategic AI investments that the VC firm has made even before the buzz surrounding the tech.

The wide range of Locofy users – which include developers, enterprises, startups, freelancers, and students – “already demonstrates its stickiness and ability to integrate seamlessly with other tools,” said Golden Gate Ventures partner Justin Hall.

See also: Singapore’s top-funded tech companies in the last decade

More details