Engineer.ai is a company that helps people build projects without having any technical skills. At the Web Summit event earlier this week, the company announced it raised $29.5 million in Series A investments. This round of funding was led by Lakestar and Jungle Ventures. Softbank’s DeepCore also participated in this round.
Engineer.ai’s Builder is considered a Software Assembly line that reduces projects into smaller building blocks of reusable features “that are customized by elastic human capacity from around the world.” And Engineer.ai goes beyond building software as it provides a fully integrated service to its customers from extended warranty (BuilderCar) to the CloudOps marketplace.
“We created Engineer.ai so that everyone can build an idea without learning to code,” said Engineer.ai’s founder and Chief Wizard Sachin Dev Duggal. “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.”
Engineer.ai launched in June 2018 and has hundreds of customers across the world ranging from e-commerce and m-commerce platforms to social app companies. For example, BBC, Virgin, Manscore, and ZikTruck used Builder to create some of their products.
“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,” added Lakestar partner Manu Gupta. “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.”
“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,” explained Jungle Ventures co-founder and managing partner Amit Anand.
Jungle Ventures is working with Engineer.ai to expand its products in Emerging Asia with Singapore as the hub.
Engineer.ai is hitting $24 million in revenue. And the company is expected to cross $100 million in revenue before the end of 2020.