Glasgow-based data solutions and property technology company, Utopi, has announced a significant milestone in its growth journey after securing an additional £5 million investment from the Scottish National Investment Bank. This latest funding boost will accelerate Utopi’s mission to deliver smart building technology that reduces environmental impact and enhances the value of multi-tenant real estate.
Transforming multi-tenant real estate through smart technology
Founded in Scotland, Utopi quickly established itself as a pioneer in the PropTech (Property Technology) space, offering innovative solutions that help landlords, investors, and property managers optimise building performance. Its technology captures real-time data on temperature, humidity, air quality, light, noise, and motion from multi-tenant properties. This data is then transformed into actionable insights by the company’s in-house experts, helping to reduce carbon footprints, improve resident wellbeing, and enhance property value.
With over 58,000 managed spaces across 13 countries and more than 100,000 smart devices deployed globally, Utopi has amassed a staggering 24 billion data points, driving continuous innovation in the sector.
Backing from the Scottish National Investment Bank
The latest £5m investment follows an initial backing from the Bank in 2023, which has been instrumental in Utopi’s rapid growth. Over the past year, the company has expanded from 12 to 55 employees, achieving 500% revenue growth.
Jonathan Burridge, CEO and co-founder of Utopi, highlighted the significance of the partnership: “The support and investment from the Scottish National Investment Bank have been truly transformative. Their belief in our vision has empowered us to scale our team, innovate our technology, and expand into new international markets. We’re proud to contribute to the Scottish economy and deliver exceptional value to global clients like Mapletree, Collegiate, and Greystar.”
Driving sustainability and smart building innovation
The investment aligns with the Bank’s commitment to building a fairer, more sustainable economy by supporting high-growth Scottish businesses that tackle climate change and scale innovation.
Richard Skillen, Director of Investment Portfolio Management at the Bank, commented: “Utopi is a shining example of how Scottish technology can drive global change. Their success demonstrates the growing demand for smart, sustainable building solutions, and we’re excited to support their next phase of growth.”
As the demand for smart building solutions, energy-efficient technologies, and data-driven property management continues to rise, Utopi is positioning itself as a global leader in transforming the real estate landscape for a smarter, more sustainable future.
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