Builder.ai, Backed by Microsoft, Secures $250 Million in Series D Funding Round Led by QIA

• ByStartupStory     |    May 24, 2023

Builder.ai, a London-based startup specializing in artificial intelligence, has successfully raised $250 million in a Series D funding round. The round was led by Qatar Investment Authority (QIA) and witnessed participation from notable investors including Iconiq Capital, Jungle Ventures, and Insight Partners. Although the exact valuation was not disclosed, Builder.ai reported a significant increase of over 1.8 times in its valuation as a result of the funding.

With the newly secured funding, Builder.ai announced its plans to utilize the capital for various purposes including talent acquisition, forging partnerships, and advancing its technology. The startup proudly stated that it has already doubled its workforce since January 2022 and expanded its global presence by establishing four new offices in the US, the UAE, Singapore, and France since 2021. The recent funding round brings Builder.ai’s total funding raised to date to over $450 million, marking a significant milestone for the company.

The recent funding round follows Builder.ai’s previous investment from technology powerhouse Microsoft. In a recent announcement, Builder.ai revealed its collaboration with Microsoft to jointly develop AI-powered solutions that enable businesses to create innovative applications. Additionally, the startup has engaged in strategic partnerships with prominent entities such as JP Morgan & Chase and Etisalat UAE, further expanding its network and reach in the industry.

Builder.ai, a Gurugram-based startup founded in 2016 by Sachin Dev Duggal and Saurabh Dhoot, successfully raised $100 million in its Series C funding round last year. The round, led by Insight Partners based in New York, attracted participation from a mix of existing and new investors, including IFC, Jeffrey Katzenberg, WndrCo, and Nikesh Arora. Builder.ai’s innovative platform enables entrepreneurs to develop applications without extensive coding knowledge, leveraging the power of AI. The startup proudly claims that its platform can deliver software and apps up to six times faster and at a significantly lower cost, up to 70%, compared to traditional human teams.

Investor interest in AI-focused startups has been steadily increasing, driven by the growing recognition and diverse applications of AI technology. The success stories of Microsoft-backed ChatGPT and Google’s Bard have further underscored the significance of AI in the industry. This year, Mad Street Den secured $30 million in its Series C funding round, with Avatar Growth Capital leading the investment. Similarly, Entropik, an AI-focused startup, raised $25 million in its Series B round, with Bessemer Venture Partners and SIG Venture Capital taking the lead in funding. These developments demonstrate the strong momentum and financial support behind AI startups.

Follow Startup Story