Private Equity

PE Fund Investments

S'ware co Builder.ai attracts $250-M led by QIA

Press Release  

London- and Delhi-based software firm Builder.ai has attracted USD 250 million in a Series D funding round led by Qatar's sovereign wealth fund, Qatar Investment Authority (QIA). Existing investors Jungle Ventures, Iconiq Capital, and Insight Partners also participated in the round. With this round, Builder.ai has attracted a total of USD 450 million in funding. The latest round has led to a 1.8X increase in valuation. Goodwin acted as legal advisor to Builder.ai. Founded in 2016, Builder.ai provides “composable” software to enterprises and individuals to help build mobile and web-based apps. It uses artificial intelligence-powered tools to build customizable features. The company will invest the new funds in developing talent, partnerships, and technology. It has doubled its headcount since 2022 and has opened four new offices in the US, UAE, Singapore, and France. Builder.ai partnered with Microsoft earlier in May as part of the latter's reseller programme (which also saw an equity investment by Microsoft). It has also entered into partnerships with JP Morgan & Chase, Etisalat UAE, and other technology and financial enterprises.

From the Venture Intelligence PE-VC Deal Database: Between Nov 18 and Mar 22, Builder.ai had raised over USD 129 M from Jungle Ventures, SoftBank Corp, Insight Venture Partners, IFC and others.