Enterprise software company Locofy.ai raises $3 million in funding

Mumbai: Enterprise software company Locofy.ai has secured $3 million in pre-seed funding from investors including Accel, January Capital, Golden Gate Ventures and Boldcap, the company said in a press release.

The company, which offers a platform that converts designs into production-ready code, will use the funding to grow its engineering and data science teams, he said.

Angel investors and tech founders from companies such as Ola, Hasura, Holistics, Wego, GajiGesa, 1Bstories, Ohmyhome, CyberSierra and Wekan, and the former head of growth at Australian graphic design platform Canva, have also participated in the round.

Founded in 2021 by Honey Mittal and Sohaib Muhammad, Locofy.ai aims to automate 50% or more of today’s workflow, allowing teams to convert their designs into code and an interactive, responsive live prototype without writing a single line of coded.

“Over the past decade, it’s taken an army of good developers to create world-class products like Airbnb and Uber. We think that’s going to be very different over the next decade,” said Mittal, who is also the general manager.

Locofy.ai recently opened its beta program globally and has already automated over 2 million lines of code.

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“It takes a huge amount of time and bandwidth for the front-end team to translate sparkling designs into accurate code. Locofy.ai will solve this problem by providing high-quality translation and providing flexibility for dynamic variables,” said Abhinav Chaturvedi, Partner, Accel India.

According to the company, the shortage of good tech talent is a global problem that has only intensified during the Covid-19 pandemic. “Fueled by an explosion in venture capital funding, reliable low-cost development hubs like India and SEA have rapidly transformed into highly competitive innovation ecosystems with their own shortage of tech talent,” he said. he declares.

“Organizations are meeting this challenge by leveraging low-code, high-productivity development tools like Locofy.ai. IDC predicts that by 2025, nearly 60% of all part-time developers and about one-third of full-time developers will be low-code developers, with low-code developers growing more than 3 times faster than traditional developers,” the statement read. .

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