Tech Dose
QIA's $250Mn funding in Sachin Dev Duggal's Builder.ai: A Game-Changing Move for the AI Sector11/28/2023 In an incredible leap forward, Builder.ai, the brainchild of tech wizard Sachin Dev Duggal, has experienced an impressive surge in valuation. Thanks to a substantial $250 million investment from the Qatar Investment Authority (QIA), the company's worth has shot up by a remarkable 1.8 times.
Builder.ai is an AI-driven innovative platform that helps tech-shy people to create their own app without coding requirement. This would also provide a greater emphasis on leveraging human dialogue as the main user interface for software development, as opposed to the expert-laden white-canvas systems prevalent in the low-code/no-code domain. The corporation has nearly quadrupled its workforce since January 2022 due to the unprecedented demand from customers and the daily advancements in artificial intelligence. Since 2021, four additional offices—in the US, the UAE, Singapore, and France—have been created, expanding the reach of its UK headquarters. QIA's massive investment not only brings a flood of financial support but also stands as a resounding endorsement of Builder.ai's vision and potential. The innovative work of Sachin Duggal in making app development accessible to all has not only caught the eye but earned significant backing. This infusion of $250 million isn't just a financial boost; it's a rocket fuel for Builder.ai's future. It opens doors for expanded operations, accelerates growth, and solidifies the brainchild of Sachin Dev Duggal standing as a pioneer in the tech realm. What does the 1.8 times valuation surge mean? It's not just about the numbers; it's about recognizing the effectiveness of Builder.ai's vision and the team's execution. This significant milestone isn't just a marker of current success; it's a springboard into a future of unprecedented growth and technological breakthroughs. It signifies that Builder.ai is not just on the right track but hurtling towards new horizons of success and innovation.
0 Comments
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. ChatGPT, OpenAI’s text-generating AI chatbot, has taken the world by storm. What started as a tool to hyper-charge productivity through writing essays and code with short text prompts has evolved into a behemoth used by more than 92% of Fortune 500 companies for more wide-ranging needs.
While there is a more…nefarious side to ChatGPT, it’s clear that AI tools are not going away anytime soon. Since its initial launch nearly a year ago, ChatGPT has hit 100 million weekly active users, and OpenAI is heavily investing in it. What the company is not investing in further is the leadership of former CEO Sam Altman, who on November 17 was ousted in a surprise announcement by the company after the board released a statement that they had lost confidence in Altman’s ability to lead the company. While the search for a new CEO is ongoing, OpenAI’s chief technology officer Mira Murati is filling in as interim CEO. On November 6, OpenAI held its first developer conference: OpenAI DevDay. During the conference, it announced a slew of updates coming to GPT, including GPT-4 Turbo (super-charged versions of GPT-4, its latest language-writing model), a multimodal API and a GPT store where users can create and monetize their own custom versions of GPT. GPT-4, which can write more naturally and fluently than previous models, remains largely exclusive to paying ChatGPT users. But you can access GPT-4 for free through Microsoft’s Bing Chat in Microsoft Edge, Google Chrome and Safari web browsers. Beyond GPT-4 and OpenAI DevDay announcements, OpenAI recently connected ChatGPT to the internet for all users. And with the integration of DALL-E 3, users are also able to generate both text prompts and images right in ChatGPT. Builder.ai, an AI-Powered platform for composable software which was founded by serial entrepreneur Sachin Dev Duggal to make it simple and affordable for average people and businesses to turn their ideas into software, has announced a Series D financial commitment of more than $250 million.
Over $450 million has been raised in Series D funding for Builder.ai, an AI-powered platform for modular software. The fund will be utilized to conduct research and development for Natasha, the company's AI Product Manager, and the platform's comprehensible app/software platform. Natasha manages duties like feature mapping and asking teams that interact with customers questions. Natasha's beta version was released in September 2021. The world's first AI-powered product manager, Builder Studio 3.0 from Builder.ai, intends to democratize software development. According to Sachin Dev Duggal, Chief Wizard and Founder of Builder.ai, the company intends to offer its customers a fully realized product that serves the customers the utmost control over the future. This in a way shows the commitment towards the business operations for customer-oriented goals. The business wants to make consulting a smooth, predictable, repeatable process that ensures top-notch practices in every output. The most recent round of funding will support the business's creative pipeline, industry leadership, and leadership in partnerships and technology. Builder.ai's vitality is supported by consistent investment, strategic partnerships, positive customer feedback, and sector innovation. The company's initial investors, Iconiq Capital, Jungle Ventures, and Insight Partners, took part in the Series D investment. The trend and technologies are drastically transforming the world, whether it's about Dubai’s Museum of Future, automation/optimization technology in manufacturing to ChatGPT, or Google Bard, all these are AI-Powered based horizons in terms of operations. In the same Whether it is about Lenskart, an Indian multinational optical prescription eyewear retail chain, it uses Virtual Augmented Reality experience for scanning and analyzing the face. This tool allows you to scan and analyze your face, and detect your face shape and temple size, thereby suggesting frames that suit you the best. This is AI-Powered virtual reality technology that is quite strong in terms of detecting the face of the buyer with its advanced algorithms technology. Whether India or the world, technology is continuously emerging constantly. Thus, Natasha, The AI Product Manager does feature mapping and also interacts with the customers. Sachin Duggal aims to utilize the funds towards the upgradation of Natasha, by which it will perform its duties more efficiently. Unity is joining the rest of the gang in providing generative AI tools for its users, but has been careful (unlike some) to ensure those tools are built on a solidly non-theft-based foundation. Muse, the new suite of AI-powered tools, will start with texture and sprite generation, and graduate to animation and coding as it matures.
The company announced these features alongside a cloud-based platform and the next big version of its engine, Unity 6, at its Unite conference in San Francisco. After a tumultuous couple months — a major product plan was totally reversed and the CEO ousted — they’re probably eager to get back to business as usual, if that’s even possible. Unity has previously positioned itself as the champion of smaller developers who lack the resources to employ a more wide-ranging development platform like rival Unreal. As such the use of AI tools could be seen as a helpful addition to devs who can’t, for instance, afford to spend days making 32 slightly varying wood wall textures in high definition. Although plenty of tools exist to help generate or mutate such assets, being able to say “make more like this” without leaving your main development environment is frequently preferable. The simpler the workflow, the more one can do without worrying about details like formatting and siloed resources. 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 Dev 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. 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. Know More : https://www.cnbctv18.com/startup/builderai-gets-usd-250-million-from-qatar-investment-authority-valuation-jumps-by-18x-16739201.htm/amp |
Archives
April 2024
Categories |