Indian AI programming platform Emergent secures $130 million in Series C funding, reaching a valuation of $1.5 billion
According to TechCrunch, Indian AI programming startup Emergent has completed a $130 million Series C funding round, with a post-money valuation of approximately $1.5 billion, an increase of about 5 times from a $300 million valuation in January this year. This round was led by private equity firm Creaegis, with participation from MNI Ventures-Claypond, Sentinel Global, as well as Khosla Ventures, SoftBank Vision Fund II, Lightspeed, Y Combinator, among others, bringing the total funding to $230 million.Emergent focuses on providing an "engineering team as a service" AI programming platform for small and medium-sized enterprises and entrepreneurs. It currently has an annual revenue of approximately $120 million, with a growth of about 70% in the past four months, and over 200,000 paying users, serving industries including logistics, manufacturing, construction, and property management.