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Engineer.ai Used 65% of Fresh Capital For Engineering and Customer Acquisition

Engineer.ai, is an AI assembly line that helps companies build and operate custom-made software, has raised $ 29.5 million of Series A funding led by Lakestar and Jungle Ventures with a partnership with SoftBank's Deepcore.

Earlier, the CEO of Engineer.ai said, the company used 65 percent of the fresh capital for engineering purposes and customer acquisition. The company's current headcount is 150 worldwide, and the company claimed that it will doubled in the coming years.

The platform currently employs 32,000 engineers, of which 10,000 are from India. "It will go up to 250,000 engineers from India within 24 months," Engineer.ai said.

The company's newly launched product, called 'Builder', is an AI-powered software assembly line, which breaks projects into smaller building blocks of re-usable features that are customized by engineers for bespoke software “at a fraction of the price and time of traditional development”, it claims.

Source: https://newspedia-live.blogspot.com/2020/03/engineerai-use-65-of-fresh-capital-for.html

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