Builder.ai, the London-based composable software platform, said it has raised $250 million in its Series D round led by Qatar Investment Authority (QIA), with participation other new and existing investors such as Iconiq Capital, Jungle Ventures and Insight Partners.
The company, which also has presence in the Delhi NCR belt, will invest the fresh funds in talent, partnerships and technology. The fundraise comes shortly after Microsoft had also picked up a stake and entered into a strategic partnership with Builder.ai, to take on the likes of Google.
Including the latest fundraise, Builder.ai has now raised over $450 million. The company, which was not a unicorn yet, said its valuation had increased by 1.8x since its previous round around March last year but did not reveal specific numbers.
“Our team is already investing this capital in our AI and automation capabilities, not only keeping pace with the fast-moving industry, but leading from the front so we can empower our customers more and at the same time use new frontier technology responsibly.” said Sachin Dev Duggal, founder and chief wizard, Builder.ai.
The company has also entered into partnerships with JP Morgan & Chase, Etisalat UAE and other technology and financial enterprises to leverage Builder.ai's artificial intelligence (AI) capabilities.
"QIA is very excited to be partnering with the leader in this space. This investment is aligned with QIA’s strategy of supporting innovative companies shaping the future of the global economy,” said Ahmed Ali Al-Hammadi, CIO for Europe, Turkey and Russia at QIA.
