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Engineer.ai raises $29.5 mn from Softbank’s DeepCore and others

Engineer.ai raises $29.5 mn from Softbank's DeepCore and others 1

Engineer.ai, which is an Artificial Intelligence startup has now secured Rs 210 crore in the funding round of Series A from the Jungle Ventures and Lakestar, with the participation from the SoftBank DeepCore.

The new funds will be going to be used for engineering and to acquire more customers as they are looking to expand the business at a high scale.

Engineer.ai was founded by the Sachin Dev Duggal and Saurabh Dhoot in the year 2012, with the headquarter based out of London and Los Angeles with the offices supporting in Tokyo and Delhi as well. The startup provides the tech-based enabled platform which will enable every individual to create custom software without doing any of the code. It was formally and popularly called by the name as SD squared, before being renamed as the Engineer.ai in 2018.

With the team of around 32000 engineers, out of which 10000 are from India only, the startup as of now is looking to scale up the engineers from India to 250000 in the coming two months.

Engineer.ai has around more than 5000 customers across the globe from various domains, which caters to both the small, medium and large enterprises.

Manu Gupta, Partner at Lakestar, said, “Software is the center of every business today, and the market has been waiting for a solution that eliminates technical barriers to build software so that everyone can engage in the new economy.”

In the year 2018, Engineer.ai also revealed revenue of $23 Million and is also expecting to increase to $45 million in 2019. In India alone, it is looking to contribute around $35 Million of revenue for 2019.

Written by Sony T

Sony is a passionate bloggers writes on Futuristic technologies ...

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