Builder.ai, a London-based software development company providing platforms powered by artificial intelligence (AI), has raised $250m (£201.8m) in a Series D funding round.
Qatar Investment Authority (QIA) led the round taking the total investment in the startup to more than $450m and increasing the valuation by 1.8 times, it said.
Existing and new investors of the company including Iconiq Capital, Jungle Ventures and Insight Partners also joined the round.
Builder.ai said it will use the proceeds to further invest in technology, partnership and recruitment.
The company now aims to enable human conversations as the main user interface for software development on its platform.
QIA CIO for Europe, Türkiye and Russia Ahmed Ali Al-Hammadi said: “QIA is very excited to be partnering with the leader in this space. We are confident that Builder.ai’s innovative technology and proven approach positions the company for a future of substantial growth.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Builder.ai chief wizard and founder Sachin Dev Duggal said: “With the support of our investors and the dedication and drive of our team, we are further empowered to unlock our own potential.
“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.”
Set up in 2016, the company counts JP Morgan & Chase and Etisalat UAE as its partners besides other technology and financial services providers.
Earlier this month, Builder.ai announced a partnership with Microsoft, which included an undisclosed equity investment in the software builder.