QIA also known as Qatar Investment Authority in its expanded form, has invested a significant fund of $250 million in a Series D funding round in the British-Indian serial entrepreneur Sachin Dev Duggal’s Builder.ai.
Sachin Duggal is the founder and CEO of Builder.ai, also known as Chief Wizard of Builder.ai, a human-assisted AI platform that makes building and running software as easy as ordering pizza. In 2012, he started Builder.ai to enable anyone to build or construct any concept, without the requirement for coding knowledge and without wasting time, money, and resources.
New or existing investors such as Iconiq Capital, Jungle Ventures, and Insight Partners also participated in the round. The latest round has marked a 1.8x valuation for the company. However, in March 2022 the company was able to raise $100 million in Series C funding. The valuation has not yet been disclosed by the company. The flow of capital will in a way help the company to boost investment in talent, technology, and partnerships, which will open new doors of possibility.
Today there is a sudden buzz of AI with the emergence of ChatGPT. Other AI technology includes Google Bard, Microsoft Bing, Infosys Topaz, and many more. This generative AI helps the user to complete his or her tasks within milliseconds. It generates information based on the request made by the user, such as information on specific topics, graphics, drawing, or coding, it makes the work super easy for the user.
Builder.ai is an artificial intelligence-powered software development engine that mainly helps businesses to develop the applications they need, in an exact manner how they need, without requiring technical knowledge. It uses no-code technology for building applications; therefore, the user doesn't need to have any technical background.
According to Sachin Dev Duggal, his company has already started investing in AI and automation, which will subsequently improve the ongoing work with more advancements and efficiency, empowering customers more and at the same time responsibly using new frontier technology.
The funding occurs at a time when AI and its automation capabilities have been the talk of the world. Builder.ai claims that it has doubled its revenue in the last year. Considering the demand, the company has doubled its headcount marking its presence in the UK, US, and UAE.
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