Engineer.ai raises Series A of $29.5 Million

Led by serial entrepreneur Sachin Dev Duggal, Engineer.ai will use 65 percent of the fresh capital for engineering and rest for customer acquisition.

Engineer.ai, the human-assisted AI that helps companies build and operate custom-made software, has raised Series A funding of $29.5 million, led by Lakestar and Jungle Ventures with participation from Softbank’s DeepCore.






Led by serial entrepreneur Sachin Dev Duggal, Engineer.ai was created with the belief that everyone should be able to build their ideas without needing to code, and that any idea can be brought to life without wastage of time, money or resources.

Sachin Duggal, Co-founder and Chief Wizard of Engineer.ai. said, “The capital comes at a time of rapid growth and will propel the platform into the mainstream, allowing Builder to open the door for entire categories of companies that could not consider it before."

The company will use 65 percent of the fresh capital for engineering purposes and the rest for customer acquisition, it said in a statement. The current headcount in the company is 150 across the globe, and the company claimed that it will double this to 300 by June 2019.

The platform has 32,000 engineers right now, of which 10,000 are from India. “This will go up to 250,000 engineers from India within 24 months,” said Engineer.ai.

Read full story @ https://yourstory.com/2018/11/engineer-ai-raises-funding-29-million

Engineer.ai eyes India expansion with $29.5 Mn from Lakestar and SoftBank

Human-assisted artificial intelligence platform Engineer.ai has raised $29.5 million in a funding round led by Lakestar and Jungle Ventures with participation from Softbank’s DeepCore.

The startup with global presence including offices in Los Angeles, London, Delhi NCR, Mumbai, and Tokyo will use the capital to go deeper in engineering operations and drive customer acquisition.



Besides, the Sachin Dev Duggal led company is also planning to expand its operations in the Asia Pacific region, especially India, South East Asia including China.

Touted as the low code no code AI platform, Engineer.ai enables budding entrepreneurs to order their own app at a low price from a network of 50 software firms and 10,000 developers.

Engineer.ai’s ‘Builder’ solution allows companies to get customised apps built for Android, iOS and other platforms. Its customers include Eros Now, Videocon, HSBC, SF Giants, Deutsche Bank as well as a slew of startups and entrepreneurs in India.

Read full story @ https://entrackr.com/2018/11/softbank-jungle-ventures-fund-engineer/

Softbank’s DeepCore Invest In Software Marketplace Engineer.ai

Engineer.ai is an LA-based startup which builds bespoke software. Company to focus on APAC region, MENA, and South East Asia. Set to cross the $100M revenue mark before the end of 2020.

Engineer.ai, which uses Artificial Intelligence to help small and mid-sized organisations build their own bespoke software (custom or tailor-made software), has raised a Series A investment of $29.5 Mn, led by Lakestar and Jungle Ventures. The funding round also saw participation from DeepCore — Softbank’s AI-focussed investment fund.

Founded by Sachin Duggal and Saurabh Dhoot in 2012, Engineer.ai is a global company with split headquarters in Los Angeles and London, supported by offices in Delhi and Tokyo. The startup was formerly known as SD Squared and was rebranded to Engineer.ai. in June 2018.

Read full story @ https://inc42.com/buzz/jungle-ventures-softbanks-deepcore-invest-29-5-mn-in-software-marketplace-engineer-ai/

Engineer.ai raises funds from Softbank's DeepCore and others

Engineer.ai has bootstrapped to $24 million in revenue. The company is set to cross the $100 million revenue mark before the end of 2020.

Engineer.ai, a human-assisted artificial intelligence platform, said it has secured $29.5 million (about Rs 210 crore) funding led by Lakestar and Jungle Ventures with participation from Softbank's DeepCore.

The funds will be utilised for strengthening engineering operations and customer acquisition, Sachin Dev Duggal, Founder and Chief Wizard of Engineer.ai, said.

Engineer.ai was created so that everyone can build an idea without learning to code, he added.

"The capital comes at a time of rapid growth and will propel the platform into the mainstream, allowing 'Builder' to open the door for entire categories of companies that could not consider it before," Sachin Duggal said.

Launched in June 2018, Engineer.ai has already attracted hundreds of customers across many geographies.

Its 'Builder' solution allows people -- even those without technical skills -- to get customised apps built for Android, iOS and other platforms.

Read full story @ https://www.moneycontrol.com/news/business/startup/engineer-ai-raises-29-5-mn-from-softbanks-deepcore-and-others-3197781.html