Engineer.ai, the human-assisted AI that empowers everyone to build and operate bespokesoftware, today announced that the company raised a large Series A investment at USD$29.5 million, led by Lakestar and Jungle Ventures with participation from Softbank’s DeepCore.
Engineer.ai’s Builder is an AI-powered Software Assembly line that breaks projects into small
building blocks of re-usable features that are customized by elastic human capacity from around
the world; delivering high quality bespoke software at a fraction of the price and time of
traditional development. Engineer.ai goes beyond just building software, providing a fully
integrated service to its customers from extended warranty via BuilderCare to the CloudOps
marketplace that provides access to everything the bespoke software might need (hosting,
microservices, marketing, etc.).
“We created Engineer.ai so that everyone can build an idea without learning to code,” said
Sachin Dev Duggal, Founder and Chief Wizard of Engineer.ai. “This investment round validates
our approach of making bespoke software effortless. 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 market opportunity for Engineer.ai spans the solopreneur to small and medium businesses,
providing a completely scalable way to develop software products.
“Software is the centre 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,” said Manu Gupta, Partner at Lakestar. “By creating an AI powered assembly line
combined with the best global human talent, Engineer.ai’s Builder bridges the gap between an
idea and a software product to enable it.”
Launched in June 2018, Engineer.ai has already attracted hundreds of customers across many
geographies, from e-commerce and m-commerce platforms, to social apps, who have used
Builder to create products like BBC, Virgin, amongst many others. The APAC region mainly
India, MENA, South East Asia including China are key focus areas for Engineer.Ai to expand
their presence into, building a stronger base for all Builder offerings.
“We’re believers in Engineer.ai’s total ecosystem; making Bespoke Software like the iPhone
with aftercare and a marketplace for all recurring services; SME’s don’t need to go anywhere
else,” said Amit Anand, Co-Founder & Managing Partner at Jungle Ventures. The Singapore
based venture capital firm jointly led this round and is actively helping Engineer.ai expand its
offerings in Emerging Asia with Singapore as a hub. “Ultimately Engineer.ai’s Builder is the new
SaaS; except this time, it's affordable, custom and actually delivers value to your business and its customers.”
Engineer.ai has bootstrapped to $24 million in revenue. The company is set to cross the $100M
revenue mark before the end of 2020.
