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UK $1.3 Billion AI Startup Builder.ai Files for UK Insolvency Proceeding to be Placed under Administration after Key Creditor (Viola Credit) Seized $37 Million from Bank Account for $50 Million Loan, Builder.ai Has $5 Million Remaining with Majority in India Bank Accounts, Founded in 2016 by Sachin Dev Duggal as Engineer.ai, Raised $450 Million from Investors Including Microsoft, Sovereign Wealth Fund Qatar Investment Authority (QIA), ICONIQ Capital, Insight Partners, Lakestar, WndrCo & Jungle Ventures
23rd May 2025 | Hong Kong
UK $1.3 billion (peak valuation) AI startup Builder.ai is filing for UK insolvency proceeding to be placed under administration after a key creditor (Viola Credit) had seized $37 million from Builder.ai bank account for a $50 million loan, with Builder.ai having around $5 million remaining with majority in India bank accounts. Builder.ai was founded in 2016 by Sachin Dev Duggal as Engineer.ai, and had raised $450 million from investors including Microsoft, sovereign wealth fund Qatar Investment Authority (QIA), ICONIQ Capital, Insight Partners, Lakestar, WndrCo & Jungle Ventures. Profile – Builder.ai, the AI powered composable software platform that allows every business and entrepreneur to become digitally powered.
“ UK $1.3 Billion AI Startup Builder.ai Files for UK Insolvency Proceeding to be Placed under Administration after Key Creditor (Viola Credit) Seized $37 Million from Bank Account for $50 Million Loan, Builder.ai Has $5 Million Remaining with Majority in India Bank Accounts, Founded in 2016 by Sachin Dev Duggal as Engineer.ai, Raised $450 Million from Investors Including Microsoft, Sovereign Wealth Fund Qatar Investment Authority (QIA), ICONIQ Capital, Insight Partners, Lakestar, WndrCo & Jungle Ventures “
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UK $1.3 Billion AI Startup Builder.ai Files for UK Insolvency Proceeding to be Placed under Administration after Key Creditor (Viola Credit) Seized $37 Million from Bank Account for $50 Million Loan, Builder.ai Has $5 Million Remaining with Majority in India Bank Accounts, Founded in 2016 by Sachin Dev Duggal as Engineer.ai, Raised $450 Million from Investors Including Microsoft, Sovereign Wealth Fund Qatar Investment Authority (QIA), ICONIQ Capital, Insight Partners, Lakestar, WndrCo & Jungle Ventures
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