Engineer.ai raises USD 29.5 mn from Softbank's DeepCore and others

Engineer.ai, a human-assisted artificial intelligence platform, Monday said it has secured USD 29.5 million (about Rs 210 crore) funding led by Lakestar and Jungle Ventures with participation from Softbank's DeepCore.

The funds will be utilised for strengthening engineering operations and customer acquisition, Sachin Dev Duggal, Founder and Chief Wizard of Engineer.ai, said.

Engineer.ai was created so that everyone can build an idea without learning to code, he added.

"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," he said.

Launched in June 2018, Engineer.ai has already attracted hundreds of customers across many geographies.

Its 'Builder' solution allows people -- even those without technical skills -- to get customised apps built for Android, iOS and other platforms.

Asia Pacific region mainly India, MENA, South East Asia including China are key focus areas for Engineer.ai to expand their presence into, building a stronger base for all 'Builder' offerings, the company said.

Engineer.ai has bootstrapped to USD 24 million in revenue. The company is set to cross the USD 100 million revenue mark before the end of 2020.

It has a presence globally includes offices in Los Angeles, London, Delhi NCR, Mumbai and Tokyo.

The company's headcount is currently at 150 spread across India, US and the UK. By June 2019, this is expected to go up to 300.