QIA led series funding provides Sachin Dev Duggal’s Builder.ai a sum of 250 Mn

New Delhi (India), June 15: Recently, Sachin Dev Duggal’s unicorn startup, an AI-driven software platform, Builder.ai reported raising over $250 million in Series D funding led by Qatar Investment Authority (QIA).



The firm has now received more than $450 million in total since its initial campaign in 2018. With its most recent financing, the company's valuation has increased to nearly 1.8 times that of its $100 million Series C fundraising in March 2022. Despite this, the business remained mum on its worth.

The artificial intelligence platform offered by London-based Builder.ai, a business founded in 2016 by serial entrepreneur Sachin Dev Duggal, allows users to create software by combining components in a manner analogous to stacking reusable Lego bricks.

This low-code, no-code platform allows anybody to develop and maintain apps, from tech-averse craftsmen looking to sell their works online to layout professionals with little to no background in programming or coding.

According to Sachin Duggal, Chief Wizard of Builder.ai, “Our team is already investing this capital in our AI and automation capabilities so we can empower our customers more and use new frontier technology responsibly at the same time.”

Since January 2022, the company has virtually doubled its workforce and increased the size of its UK headquarters by opening four new offices, including ones in the US, the UAE, Singapore, and France. The firm has virtually quadrupled its workforce in response to the organization's record-high customer demand and daily advancements in AI.

A deal with Microsoft that involves a covert stock investment in the business was just made public by Builder.ai. The most recent amount of funding, according to Duggal, will support the company's continued leadership in the industry and its creative pipeline, enabling greater investments in people, relationships, and technology.

The whole idea of software is being reinvented as our world enters an amazing period of transition. According to Sachin Duggal, a serial entrepreneur and Founder of Builder.ai, “It is only going to grow exponentially”. “Software no longer has the years-long shelf life it once had; instead, it now only has the shelf life of a conversation” he added.

Iconiq Capital, Jungle Ventures, and Insight Partners were among the additional existing and prospective investors who took participation in the Series D deal.

“We are confident that Builder.ai's innovative technology and proven approach positions the company for a future of substantial growth,” says Ahmed Ali Al-Hammadi, CIO for Europe, Turkey, and Russia at QIA.

“Since Insight invested a year ago, Sachin Duggal and the Builder.ai team have achieved outstanding accomplishments” Jeff Horing, co-founder and managing director of Insight Partners, declared. “The firm has our full support, and we are happy to be increasing that support”.

Due to Duggal's leadership and vision, Builder.ai has grown quite quickly. His ability to foresee market opportunities and apply technology to complex problems has helped the company overthrow the traditional software development industry and usher in a new age of affordable and efficient software development.

Because of its current funding achievement and groundbreaking discoveries, Builder.ai, led by Sachin Dev Duggal, will likely transform the software development environment. By facilitating the availability of software development, the firm helps companies of all sizes integrate the shift to digital and boost their expansion. The subsequent era of innovation from Builder.ai is eagerly anticipated as it promises to revolutionize software development.

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