Engineer.ai Sucessfully Raises $29.5M For Its AI+Humans Software Building Platform

The Engineer.ai, based in London and LA, launched 2.5 years ago, bootstrapped by the founders. Engineer.ai’s platform combines the AI (Artificial Intelligence) with teams of developers and designers to build distinctive digital products as, they claim, less than ⅓ of the cost in developing traditional software with twice the speed.

Today, the Engineer.ai’s founders announced at the WebSummit that they have managed to raise a huge Series A investment at around $29.5 million, co-led by Jungle Ventures and Lakestar along with the participation of SoftBank. The round is one of the largest A-rounds in Europe ever.

“Builder” product of Engineer.ai breaks the projects into many small “building blocks” of features that are reusable and customized by engineers around the globe, making this process cheaper compared to the average one.

The founder, Sachin Dev Duggal, said that he and his team created the Engineer.ai to allow everyone to build software for their ideas without having to know about coding. The $29.5m investment round validate their approach of creating a bespoke app with a minimum effort. He stated that this invest comes at the point where the platform is growing rapidly, “allowing Builder to open the door for entire categories of companies that could not consider it before.”

He added that “at a certain level we compete with Gigster albeit we have really taken a very different approach (assembly line and buying excess capacity from over 100 Dev shops in 10 time zones) whereas they are a modern-day consulting shop”. That means they will have a huge scale, accessing to over 32,000 designers and developers with more than 500 building blocks that can help their customers cut their costs for features (designs and code) that they have already offered. Therefore, Gigster will not compete with them as they will buy capacity from Gibster and also offer them some ways to be a partner on go to market.

The co-founder of Engineer.ai and also Jungle Ventures’ managing partner, Amit Anand, said that “we’re believers in Engineer.ai’s total ecosystem; making Bespoke Software like the iPhone with aftercare and a marketplace for all recurring services.”

Partner at Lakestar, Manu Gupta, said that software is essentially the core of many businesses and the market has needed a solution that can remove the tech barrier so that can enable anyone to engage in the new economy. By creating an assembly line powered by AI with the top talents all over the world, Builder of Engineer.ai can help businesses turn their ideas into software that enable them.

After launching Builder in 2018, the Engineer.ai has contributed to creating many products like ikTruck, BBC, Manscore, and DiditFor.